Former Italian Prime Minister Silvio Berlusconi said it would be “unsustainable” for Italy to abandon the euro, insisting that his Euroskeptic Northern League allies agree.
In a series of tweets reiterating what he had said in a radio interview Tuesday, Berlusconi said that Northern League leader Matteo Salvini understood that it would be “technically impossible and unsustainable for the Italian economy” if the country left the euro.
“The euro is a badly born currency, with the wrong exchange rate, that has impoverished Italians,” he wrote in one tweet. “But today it is not possible to be without it.”
The Northern League has softened its tough line on the euro and Europe as it hopes to team up with Berlusconi’s center-right Forza Italia in a new government after March’s general election.
Berlusconi also said that the euro should continue to be managed in the way European Central Bank President Mario Draghi — also an Italian national — has done.
In the run-up to the election on March 4, polls show the populist 5Star Movement leading the way, followed by Prime Minister Paolo Gentiloni’s Democratic Party. But analysts predict there could be no clear-cut winner, in part due to a controversial new electoral law.
If Berlusconi’s Forza Italia joins forces with the Northern League and the smaller far-right Brothers of Italy, they could together emerge as the winners, without gaining an absolute majority, Reuters reported.