EUROZONE-GREECE/ITALY REAX Concerns in Italy over possible knock-on effect from Greek vote

Record ID: 148192

  • Title: EUROZONE-GREECE/ITALY REAX Concerns in Italy over possible knock-on effect from Greek vote
  • Date: 6th July 2015
  • Summary: ROME, ITALY (JULY 6, 2015) (REUTERS) TRAFFIC IN STREET PEOPLE WAITING AT BUS STOP VARIOUS OF MORNING COMMUTERS IN CENTRAL ROME (SOUNDBITE) (Italian) ROME RESIDENT, MARIANGELA COLANTUONO, SAYING: "I think all the European countries now need to come together and decide what they want from the union, but I don't think the solutions can be found in any country leaving the EU o
  • Embargoed: 21st July 2015 13:00
  • Keywords:
  • Location: Italy
  • Country: Italy
  • Topics: General
  • Reuters ID: LVA9B1IKRNOHGFOTRICLEC5LYKSD
  • Aspect Ratio: 16:9
  • Story Text: Italians making their way to work on Monday (July 6) morning reflected on the result of the Greek referendum vote and its implications for Italy and Europe.
    The Greeks on Sunday (July 5) delivered a resounding 'No' to the conditions of a rescue package with international creditors, casting the country into uncharted waters and a possible exit from Europe's common currency.
    Greece's Finance Minister, Yanis Varoufakis, resigned early on Monday in the wake of the referendum result.
    Many morning commuters in Rome said they did not believe Greece leaving the euro would benefit Europe.
    "I think all the European countries now need to come together and decide what they want from the union but I don't think the solutions can be found in any country leaving the EU or changing currency," said Mariangela Colantuono.
    Another Rome resident, Loredana Marini, said she expected a hard road would follow the vote in Greece.
    "I think they are going towards tough times. As for us, I don't really know what to say but I don't think leaving the euro is the right thing for any country right now," she said.
    Marini added that she believed any knock-on effect would be too much for crisis-hit Italy.
    "Let's hope not. If things get worse than they already are we are in trouble," she said.
    Rome resident Floriana Moneti said she did not find the Italian leaders' assurances that the country was stable convincing.
    "I hope not, our leaders and representatives say that we won't be affected but I am not convinced we are safe," she said.
    Some locals believe Italy should have never joined the euro.
    "What will happen now? We were better off with the Lira, that's all there is to say," said Giorgia Santini.
    The Greek vote came after Italy's statistics office (ISTAT) on Friday (July 3) said the country's fledgling economic recovery from three years of recession is already losing steam.
    In its monthly bulletin, ISTAT said most recent indicators suggested the pick-up seen in the first quarter "is continuing but at a slower pace".
    The eurozone's third-largest economy grew 0.3 percent in the first quarter from the previous three months, following five quarters of stagnation or contraction. The government forecasts full year growth of 0.7 percent in 2015.
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