How much would it cost Italy to leave the euro? If the exit took place today, our country would have to pay 358,6 billion. Not theorists, but cash.
The calculation was made by the ECB, reports La Stampa, in response to a question presented by two M5S MEPs. At their request to know the data of Target 2, or the payment system between the central banks of the euro area. The reply sent by Frankfurt clarifies that Italy has a deficit of 358,6 billion, precisely, while Germany has a surplus of 7544,1 billion. According to the ECB, this is above all the technical consequence of Quantitative easing, i.e. the purchase program supported by the Eurotower: since it buys more Italian and Spanish securities than usual and since the transactions take place through the Bundesbank, Germany has accumulated a surplus that otherwise would not have.
However, and this is the central point, "if a country leaves the Eurosystem - writes the ECB in its answer to the question - the credits and liabilities of its central bank towards the ECB would have to be regulated in full".
In other words: the debts would have to be entirely discharged and for Italy it could be a heavy duty to pay.
The latest data published by the ECB, with graphs and tables documenting the strong gap between Italy and Germany as well as that between Spain and Germany, can be checked by clicking here.
