Italian finance minister sees Grexit as bigger risk in medium rather than short term

Greece crashing out of the euro, or ‘Grexit,’ doesn’t pose a short-term risk to the shared European currency but a medium-term one as it demonstrates that the union is not permanent, Italy’s finance minister said on Friday.

If Greece abandons the euro “the monetary union becomes a different animal. A group that is possible to leave, it will no longer be irreversible,” Finance Minister Pier Carlo Padoan said in Friday’s issue of La Repubblica.


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