(Bloomberg) -- Beppe Grillo, co-founder of government coalition partner Five Star Movement, has repeated his proposal for an Italian referendum on the country’s membership in the euro.
“Let the Italian people decide whether to stay in the euro, not in Europe but in the euro -- a consultative referendum so that we can have a conversation for a year about a Plan B,” Grillo said in an interview with Ian Bremmer of the G-Zero World weekly online show.
The new populist government has spooked investors concerned that Italy may be headed toward an exit from the euro common currency. The cabinet led by Prime Minister Giuseppe Conte has repeatedly denied any such move exists though doubts remain.
“We don’t have a Plan B in case something goes wrong,” Grillo said of the country’s euro membership. He said the Five Star proposal for a euro referendum goes back several years.
He continued: “You need to have a Plan B on the currency. I’m sure Germany and France have a Plan B. I didn’t say leave the euro. I said to let the Italian people decide with a referendum.”
(Updates with further quote from Grillo in last paragraph.)