Ex-minister Savona calls for 'Plan B' to exit euro

(ANSA) - Rome, July 15 - Paolo Savona, the Italian economist and former government minister, has warned that Italy "must have a plan B" to exit the euro.
    Savona, who served as industry minister during the Ciampi government in the mid 1990s, said that if "Italy were caught unprepared, it would be a tragedy".
    "If Italy hasn't already done so, it must have a plan B ready in the event of an end to the euro or a need to exit from it," he wrote on the blog of Beppe Grillo, the leader of Italy's anti-establishment 5-Star Movement.
    The economist said that Germany has proclaimed itself the "commanding country in Europe and has used Greece to reaffirm this role".
    Since "the [Greek] agreements are badly constructed and signed by countries with intentions to dominate, they won't have a long life", he added. He wrote that soon Italy could face problems.
    Savona also wrote that Italy must soon settle the issue of its debt, which he suggested could be restructured in a similar to way to what was requested of Greece, in the form of a guarantee plan.
    "The high level of Italian debt is the key reason for which we may be blackmailed into 'making reforms' and to ensure that the power within Italy stays with those that have invoked and perpetuated this state of international subjugation."