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Italy's populist Five Stars has new plans for euro

AFP  |  Rome 

Italy's Five Star Movement, which promised supporters a referendum on the euro, has had a change of heart, insisting it can win concessions from to ease fiscal rules instead.

When in 2013 the anti-establishment party urged a vote on the single currency, "had a monolithic government, the French-German axis was very strong, was still fully involved," Five Star (M5S) leader said today.

"It was very difficult to negotiate. Today, everything has changed," he told TGCOM24 television.

"has been struggling for 90 days to put a together, has a minority government, France's traditional parties are weaker than ever.

"It's time to change the rules on the euro, not leave the euro," he added.

The movement has been steadily distancing itself from the idea of a referendum as it gears up for its first run at national leadership at the March 4

Founded in 2009 and the leading single party in opinion polls, M5S supports a hotchpotch of policies from across the political spectrum.

Popular with younger voters in particular, it is accused by critics of being too immature to take over at the helm of the eurozone's third largest

Di Maio, 31, said yesterday a vote on the "would be an 'extrema ratio'," a Latin term for the last possible solution.

The has become a hot topic in the campaign. Former three-time conservative said yesterday that could not afford to leave the single currency -- but his centre-right coalition partner contradicted him immediately.

"(Matteo) Salvini has changed his mind on leaving the euro, he has understood that it would be untenable for our economy," Berlusconi told

But Claudio Borghi, the anti-immigrant party's economist, said that "the moment the League gets into it will make all the necessary preparations for monetary sovereignty".

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, January 10 2018. 22:00 IST