German Central Banker No Sense in Speculating on Euro Exit

Jens Weidmann responded with that statement when asked about the possibility of an Italian exit. Results for the elections have given M5S leader Beppe Grillo the spotlight and he has hinted at the option of an Italian exit from the EU. This echoes the statements from other political parties in Greece and Cyprus as austerity measures increase. Even in Germany a new formed party is floating the idea of a Euro breakup to go back to national currencies or smaller currency unions.

Weidmann was asked about a comment last week from Rainer Bruederle, a leader of German Chancellor Angela Merkel’s junior coalition partners, who said Italy may decide to exit the euro or take other drastic action.

“I do not believe it makes sense to speculate about individual countries leaving the euro area,” Weidmann, also chief of Germany’s Bundesbank, said during a question and answer session after giving a speech in Cologne.

via Reuters

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