3 ms·
> should the Italians decide to have a referendum on the Euro. About the only way for an Eurozone member to leave is to leave the EU (since that's a condition
by pgeorgi 8y ago
> should the Italians decide to have a referendum on the Euro.
About the only way for an Eurozone member to leave is to leave the EU (since that's a condition for Eurozone membership and the Eurozone has no leaving procedure of its own in its bylaws).
They will at least wait to see how it turns out for the UK before trying anything like that.
- atmosx 8y agoWhy should they? UK's case is totally different case. I don't think that exiting the currency means exiting the union.
- pgeorgi 8y agohttps://en.wikipedia.org/wiki/Withdrawal_from_the_Eurozone https://en.wikipedia.org/wiki/Withdrawal_from_the_Eurozone "Other analysts[10] have submitted that there are basically three ways of exiting the Eurozone: by leaving and subsequently rejoining the EU, whereby a renewed membership in the European Union would be possible only when economic convergence had been achieved; through a Treaty amendment; or through a European Council decision. The amendment would involve an extension of Article 50[11] of the European Treaty that would set out the process for exiting the euro." 1. "Leaving the EU" is what the UK is doing right now (and Italy would want to wait to see how messy that will be) 2. "A Treaty amendment" requires consent by other treaty members, so not going to happen 3. "European Council decision" also requires consent by a significant portion of European countries, so also not going to happen.