Euro designed for ‘oligarchies’

Two Italian Eurosceptic parties have said they plan to remove the country from the eurozone, with one calling the euro as a currency designed for “oligarchies”.

On Wednesday, Italy’s populist Five Star Movement slammed the economic and social costs of being part of the eurozone, adding that the euro was a currency designed for “Germany and financial oligarchies.”

The party stated that it plans to launch a petition on Saturday to demand a referendum on the eurozone membership.

“The question is not whether we should exit the euro, but to leave it as soon as possible,” said the leader of the movement, Beppe Grillo.

Also on Wednesday, the leader of the Northern League Party, Matteo Salvini, said, “We want to exit the euro.”

Salvini added that he missed the time when Italy used the Lira and had a high inflation rate, which showed “people were working and consuming.”

“The EU is trying to fix a system that is fundamentally flawed” and in “the hands of banks and financiers,” he said. “Europe today cannot be reformed, it has to be knocked down and rebuilt from the ground up.”

Anti-EU parties in Britain and France are enjoying a popularity growth.

In September, Britain’s Eurosceptic UK Independence Party (UKIP) won its first elected seat in the British parliament.