The euro could jump on speculation against Italy. For Giorgio Squinzi, president of Confindustria, the risk is real and the EU Council of 28 and 29 June will have to give a strong response to the crisis to prevent the contagion from affecting the most exposed country after Greece and Spain.
"If something happens to Greece or other countries, I believe that Italy will be a main target not because it is weaker than Spain and other countries, but because by attacking Italy financial speculation could really blow up the euro". said Squinzi who added: "A response to the markets must arrive from Brussels on 28 and 29 June to discourage contagion towards our country which would be among the most exposed if not the most exposed".
And the development decree that the government has just approved?”Passera has some valid ideas – replied Squinzi – I believe that at the moment international speculation is almost uncontainable in the absence of very strong political signals, especially from Europe”. For Squinzi now it is not just a problem of Greece and Italy, it is necessary to make a qualitative leap and become the "United States of Europe". And the elections in Greece and the EU Council at the end of June must send a strong message in the direction of a more integrated and more cohesive Europe against what could be financial speculation.
