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The Euro has "screwed everybody", says Italian PM

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posted on Jul, 29 2005 @ 10:18 AM
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From The Sun -

By MICHAEL LEA
European Correspondent

ITALIAN Prime Minister Silvio Berlusconi has admitted the euro “screwed everybody”.

Berlusconi, who is also a billionaire media mogul, yesterday said consumers had been “ripped off” after joining the single currency.

And he blamed it for plunging Italy into recession with soaring prices and unemployment.

Mr Berlusconi faces an election battle against euro champion and former EU Commissioner Romano Prodi next year.

Yesterday the outspoken PM raged: “Prodi’s euro has screwed everybody.

"Italy is not a disaster — but Prodi’s euro has ripped us all off.”

When Italy switched to the euro in 2000 many businesses used the changeover as cover to hike their prices.

A recent poll found 27 per cent of Italians want to return to the lira.

The euro is also causing problems in Germany and France — with unemployment at 11.8 and 10.2 per cent respectively.

Last night Tory shadow Chancellor George Osborne said: “Mr Berlusconi has blown the gaff on the euro and shown it up for the disaster it is.

“This shows how right we were to insist we keep the Pound and, with it, control of our own economy.”

www.thesun.co.uk




posted on Jul, 29 2005 @ 10:28 AM
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Originally posted by AdamB
When Italy switched to the euro in 2000 many businesses used the changeover as cover to hike their prices.


This is the part I found interesting. So was it the Euro that is causing problems or price gouging? I can see if the Lira was devalued by the change it could be a problem, but if business are ripping off the people????



posted on Jul, 29 2005 @ 11:19 AM
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Ppppppffffhhhh.

Berlusconi is merely playing to the public gallery at home. Big deal.

He's up for reelection next year, that's what this is all about.

Just as there was widespread dissatisfaction when the UK went decimal (for many of the same reasons, ie people taking advantage to hike prices) so it is with the Euro.

That doesn't mean the advantages don't exist or are outweighed by the disadvantages.

(anyone trying to say there's any sign of Italian businesses clamouring for the additional costs of going back to individual currencies?
)



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