Beppe Grillo: "Italy Is Already De Facto Out Of The Euro"

In a preview of an interview he will conduct today with German's Handelsblatt, the surprise winner of last month's Italian elections Beppe Grillo said that Italy is “already de facto” outside the euro and runs the risk of being “dropped” by the region’s wealthiest members as soon as their banks recoup what they invested in the nation’s bonds. His suggestion - the same that got Greece's G-Pap promptle sacked in late 2011 - a popular referendum to decide if Italy should remain in the Eurozone. Grillo's best line, however, was saved for Mario Monti: "he is a bankruptcy trustee on behalf of the banks" which is perhaps the most astute description we have read of the former Goldman operative ever. Still think Grillo is just a simple-minded comic with a penchant for anarchy?

From Handelsblatt:

The Italian politician and surprise winner of the last general election, Beppe Grillo, does not believe the fate of Italy is to remain in the Euro-zone. "In fact, Italy's already out of the euro," said the leader of the party "five stars" in an interview with the Handelsblatt. He believes that the Nordic countries would keep Italy only so long, "until they have taken the pure investment banks in their Italian bonds again. Then they will drop us like a hot potato."


Grillo sketched a popular decision on the euro. It has to pass an exit from the euro but "not alone" but would "make an online referendum on the euro." Just as on the Lisbon Treaty. These are "all issues on which our Constitution was ignored".


Interview Grillo expected sharply with the current Italian Prime Minister Mario Monti. This was "a bankruptcy trustee on behalf of the banks. Held up at the top earners and cut the state system, he has the people below paying higher taxes. "


Grillo sees itself not as anti-European. "Europe must not be afraid," he told Reuters in an interview. He asked, however, a strong reversal and "more democracy." For his party, he takes to claim. "We are the French Revolution - without guillotine" Europe needs a "Plan B," says the Italian politicians.


"We must still ask: What happened to Europe? Why do we have no common information policy, no joint tax policy, no common policy of immigration? Why has only Germany been enriched?"

All very good questions which Italy's population will be increasingly seeking to get answers for.