Italian election won't be referendum on euro - Germany's Scholz

Reuters

31 May 2018 at 5:34 am

BERLIN (Reuters) - German Finance Minister Olaf Scholz said in a Reuters interview published on Thursday that he does not expect the next election in Italy to become a referendum on its euro zone membership.

Anti-European remarks by leading Italian politicians and almost three months of political turmoil in the euro zone's third-largest economy have spooked financial markets.

Asked if he was concerned that a fresh election in Italy could turn into a referendum about its euro zone membership, Scholz said: "No, I'm not worried that this will happen."

Scholz said Italy was a founding member of the EU and a majority of Italians were pro-European. He added the euro zone should accelerate its efforts to strengthen the single currency bloc despite the political situation in Italy.

(Reporting by Michael Nienaber and Gernot Heller; Editing by Madeline Chambers)

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