Saturday, 31 Jul 2021

Coronavirus crisis: EU insider reveals why bloc is set to collapse without Italy

It comes after Italy’s Prime Minister Giuseppe Conte warned the European Union risks failing as a project in the coronavirus crisis. Mr Conte said the EU must act in an adequate and co-ordinated way to help countries worst hit by the virus. He told the broadcast: “Europe’s leaders are facing an appointment with history that they cannot miss.

“If we do not seize the opportunity to put new life into the European project, the risk of failure is real.”

His warning comes as Italy and eight other EU countries are trying to push more frugal members of the bloc to issue so-called “corona bonds” – sharing debt that all EU nations would help to pay off.

The Netherlands and Germany in particular are opposed to the idea as they see it as potentially putting their taxpayers on the hook for the debt of other countries.

As many economists wonder whether the EU will be able to survive the coronavirus pandemic or whether countries like Italy will have to be forced out the eurozone, Italian MEP Antonio Maria Rinaldi issued a stark warning to the bloc in an exclusive interview with

According to a throwback report by the Guardian, Germany called for Greece to be expelled from the eurozone for at least five years at the height of the debt crisis in 2015.

Angela Merkel had long sought to avoid going down in history as the German Chancellor who presided over the breakup of the eurozone but her government and many centre-right MPs were not convinced Greece had done enough to justify a new three-year bailout.

On the other hand, France, Italy and Spain were working tirelessly to save Greece.

Mr Rinaldi claimed that situation could never happen with Italy.

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He explained: “It is completely different.

“Greece does not represent the economic weight of Italy.

“If Italy were to leave, the EU and the eurozone would immediately collapse.

“No question. It would happen immediately afterwards.

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“People should remember that Italy is second only to Germany when it comes to manufacturing.

“And the EU should start listening to us and responding adequately to this crisis.

“Right now, there is no leadership in Brussels.”

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