Italy vs. Germany – No, it’s not Euro2016 quarter-final but Renzi vs. Merkel

It’s not the first time that Italian politicians are going against German politicians, and viceversa.

On the banking union we established specific rules as far as the winding down of banks, the recapitalization of banks is concerned,” German Chancellor Angela Merkel told. “We can’t come up with new rules every two years,” she said, replying to a question about Italy’s requests to prop up its banks in the wake of volatility caused by Britain’s vote to leave the European Union. (Reuters)

Italian PM Matteo Renzi replied saying: “We don’t want and we didn’t ask to change rules but we should remember that Germany didn’t respect the rules in 2003 because the then Italian PM Berlusconi allowed it. Germany put 247 billion of euro to save its banks at that time.” (Corriere della Sera)