Italy's insurgent parties want debt forgiveness and exit from EU

Section:

5-Star, League Want ECB to Forgive 250 Billion Euros of Italy Debt: Draft

By Gavin Jones
Reuters
Tuesday, May 15, 2018

ROME -- The anti-establishment 5-Star Movement and far-right League plan to ask the European Central Bank to forgive 250 billion euros ($296 billion) of Italian debt, according to a draft of a coalition program the parties are working on.

The 39-page document, obtained by Huffington Post Italia, also calls for a renegotiation of Italy's European Union budget contributions, an end to sanctions against Russia, and plans to dismantle a 2011 pension reform that raised the retirement age.

The proposal likely to cause most alarm to financial markets is the creation in the EU of "economic and judicial procedures that allow member states to leave monetary union." ...

... For the remainder of the report:

https://www.reuters.com/article/us-italy-politics-draft/5-star-league-wa...



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