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    Italy’s EU Exit Referendum to Induce ECB to Revise Austerity – MP

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    A referendum on Italy’s withdrawal from the Eurozone will become an incentive for the European Central Bank (ECB) to revise the monetary architecture of the EU, including the austerity measures it introduced, a member of the 5 Star Movement told Sputnik Friday.

    MOSCOW (Sputnik), Daria Chernyshova — In 2014, the 5 Star Movement launched a petition calling for a referendum on Italy’s exit from the Eurozone. The petition has collected more than 100,000 signatures.

    “A referendum is also a way to induce the ECB to take the austerity glasses away and revise the very monetary architecture of the EU,” Dario Tamburrano, Italy’s member of the European Parliament from the M5S (Movimento 5 Stelle- M5S) told Sputnik.

    He added that the public should have been consulted when the EU treaties were being approved. The M5S also believes that Europe’s monetary union was hastily built before a real process of integration and convergence between the monetary systems of the EU's member states was accomplished.

    Tamburrano argued that the euro broadened inequalities among member states and is preventing the implementation of steps necessary to address the ongoing economic crisis.

    The Five Star Movement was formed in 2009 and finished second in the 2014 European Parliament election with 21 percent of the vote.


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