A MARKET strategist has claimed the European Union “elite” do not like it when a vote goes against them and they will use the European Central Bank (ECB) as their “muscle” to fight back.
By Darren Hunt
Dave Zervos, Jefferies chief strategist, claimed the European Central Bank could make some “painful outcomes” for voters if they strayed away too far from the centre.
It comes as Italy is in a current state of political chaos after the two populist parties Five Star Movement (M5S) and Lega were blocked from forming a government.
Over the weekend the Italian President Sergio Mattarella vetoed the appointment of eurosceptic professor Paolo Savona as Ministry of the Economy before appointing former International Monetary Fund official and europhile, Carlo Cottarelli, to form an interim government of technocrats.
Fears that Italy would leave the euro were seen as one of there reasons for the President’s decision.