World Economy

Greek Exit Troublesome

Greek Exit TroublesomeGreek Exit Troublesome

A Greek exit from the euro would not cause any short-term problem for Italy but would create a mid-term problem that would make the eurozone system more fragile, Italy’s economy minister Pier Carlo Padoan said in a newspaper interview on Friday, PTI reported. “Short term contagion does not worry me because the ECB has put measures in place and quantitative easing is a shield that works,” Padoan told La Repubblica, adding that Italy was more solid than two or three years ago. The real problem was in the medium term, he said. “The system in general becomes more fragile and less able to absorb shocks.”