ECB Must Shield Italy, Others From Speculation, Borghi Says
- Without ECB intervening, euro system may fall, lawmaker says
- Premier, ministers held call on outlook for public finances
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The European Central Bank should keep providing a shield to the government securities of all monetary union members to avoid a dismantling of the entire euro system, a top lawmaker from Italy’s ruling coalition said.
“There cannot be a system at the mercy of market movements” without any shields by the central bank, Claudio Borghi, the euroskeptic head of the budget committee in Italy’s lower house, said in an interview on Monday. “Nowadays there is a system that has a residual amount of quantitative easing, but with everybody knowing that this is being phased out and will come to an end soon.”