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Italy needs to be ready for 'all eventualities' on euro - Savona

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Italy needs to be ready for 'all eventualities' on euro - Savona

Italy needs to be ready for 'all eventualities' on euro - Savona
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ROME (Reuters) - European Affairs Minister Paolo Savona said on Tuesday that Italy needs to be ready for "all eventualities" regarding its permanence in the euro zone, which may depend of factors outside its control.

"We may find ourselves in a position where it's not us who decide but others," Savona told a panel of senators. "My position regarding a Plan B ... is that we have to be ready for all eventualities," he added.

Italian bond yields rose after Savona's remarks and Milan's blue-chip share index erased earlier gains.

Savona was originally picked as economy minister by the anti-establishment coalition which took office last month, but the choice was vetoed by the head of state because of his critical views about the euro.

An 81-year-old former university professor, Savona wrote in a book published this year that Italy's entry in the euro zone was a "historic mistake".

(Reporting by Angelo Amante, Writing by Gavin Jones; Editing by Crispian Balmer)

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