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“Following the Italian elections on February 24 and 25, the euro has been caught in turbulence. The Italians voted against Mario Monti’s policy of reforms, and against the diktat of austerity,” imposed by Germany, notes the business daily.
“All eyes are now on the European Central Bank,” adds the newspaper, which points out that the ECB will “not supply any aid in the absence of reforms”.
Before the election, the ECB’s Italian President Mario Draghi warned Italian voters of this when he revealed that the bank had bought close to €100bn of Italian bonds since the onset of the crisis.
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