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Business Daily

Italy and the EU: Split or Quit?

Business Daily

BBC

Business

4.4 β€’ 816 Ratings

πŸ—“οΈ 28 November 2018

⏱️ 18 minutes

🧾️ Download transcript

Summary

Is Brexit boosting a bust-up with Brussels? Gianmarco Senna, is a ruling Lega Party counsellor with the regional Lombardy authority. He told Manuela Saragosa he thinks Brexit is marvellous. But while Italy is unlikely to follow in the UK's footsteps, Manuela is in Milan looking at how Brexit might help the Italian Government extract what it wants from the EU – more money to spend on helping fix the economy. And Professor Francesco Giavazzi of Bocconi University says there is a danger the country could split in two – the north and the south.

Producer: Laurence Knight

Image: Italian and European flags (Credit: BBC)

Transcript

Click on a timestamp to play from that location

0:00.0

Hello and welcome to Business Daily. I'm Manuel Saragossa and for this edition I'm in a cafe in Milan,

0:07.3

Italy's commercial capital, where I've been speaking to some Italians who think Brexit is marvellous.

0:13.8

I love Brexit. Why?

0:16.0

We want Brexit, want Trump because we are populist and very bad guy like Farage or Cameroon.

0:28.7

Italy was once one of the European Union and Euro's most enthusiastic members.

0:34.0

So are Italians now falling out of love with the EU?

0:37.5

We are used to see this theatre.

0:40.2

It is like a drama that they are playing.

0:42.9

It's a big opera, Italian opera.

0:45.3

That's coming up here in Business Daily from the BBC.

0:51.9

The cafe I'm in here in the centre of Milan is called California Bakery.

0:56.5

It's a sunny morning and people are dropping in and picking up their cappuccinos as they're head into work.

1:02.0

Most of Italy's industry and business is based in and around this northern city and the region it sits in, the region of Lombardy, which is why this cafe was set up here in Milan,

1:11.6

even though its owner, hails from Sicily far away down in the south of the country.

1:16.4

He didn't set up his business down south because the south of Italy is far poorer than the north,

1:21.7

and there just isn't a market for the kind of premium cakes and coffees they sell here.

1:26.0

Now, this yawning economic chasm between the

1:28.6

north and the south of Italy is one of the issues the new populist government of the Lega and

1:33.1

five-star movement here wants to tackle. They want to do that by spending lots of money. But the

1:37.9

European Union in Brussels is having none of it. It says Italy's spending levels and public debt

1:42.4

are already far too high as it is.

1:45.0

So the new government in Rome and Brussels are locked in a fight over spending as we speak.

...

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