Free words. It was not just any person who said them but the chairman of the Budget Committee of the Chamber and economic manager of the League, Claudio Borghi, according to whom Italy "with its own currency would solve most of its problems". That was enough to cause a jolt on the euro which slipped by half a percentage point, to its lowest level in the last five weeks. In fact, the single currency touched 1,1525 dollars, the lowest level since August 21st. The euro also lost ground against the Swiss franc, often bought as a safe haven asset in times of market turbulence, at 1,1347 francs.
The war of words, precisely the one stigmatized by the president of the ECB Mario Draghi who had warned Italy inviting it to dose the words for the damage they can produce on the markets, it strikes again. And it does so precisely at a time of strong tension between Europe, which announces budgetary tightening to avoid putting the euro at risk, and our government which has presented an update of the Def (Economics and Finance Document) openly out of by European standards. What's more, the dollar is further strengthening on the markets after the good data on the trend of the US economy and after the renewal of the maxi trade agreement between the US, Canada and Mexico. The "dollar index", recorded by Reuters, rose by 0,3% to 95,542, treated at the highest level in three weeks.
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“Italy is a founding country of the European Union and of the Monetary Union and I would like to reiterate it: the euro is our currency and it is indispensable for us”. The Prime Minister, Giuseppe Conte writes it on Facebook. "Any other statement that proposes a different assessment - he points out - is to be considered as a free and arbitrary opinion that has nothing to do with the policy of the Government I preside over, because it is not contemplated in the contract at the foundation of this Government experience" .
