EU COMMISSION boss Jean-Claude Juncker was told to stop passing judgement on the possible results of the upcoming Italian election after fueling losses at the Milan stock exchange with a gloomy forecast of “ungovernability” in the EU member state.
In a statement, the party said: “The alarm rings like clockwork: there’s a threat on the horizon called ungovernability.
“Juncker issued his judgement on the Italian election. Instead of blurting things out it would be best if the EU Commission President worried about the disasters that have happened during his mandate.”
Jean-Claude Juncker revealed Brussels is preparing should the Italian election result in a “non-operative” government – an outcome EU higher ups fear could destabilise the already-fragile member state.
Mr Juncker said: “The beginning of March will be a very important week in Europe: we have the results of the SPD referendum in Germany and the Italian election.
“The Italian election worries me more than the SPD vote but we have to prepare for the worst-case scenario, which would be Italy failing to form an operative government.”
He added that such a result could severely impact the European markets.
But despite his warnings about the risks of ungovernability, it was Mr Juncker’s statement which made the Italian stock exchange market fall.
The FTSEMib index fell closing down at -0.84 percent, with the Italian/German debt spread widening further in response.
The EU Commissioner later backtracked, writing on Twitter: “On March 4 Italians will go to the polls. Whatever the result, I am hopeful we will have a government which will reassure us Italy will remain a central actor in Europe.”
As one of the founding EU members, all eyes will be on Rome on March 4 as voters choose the future direction of their country.
A damning report warned that the future of the bloc could be at stake if the person who wins cannot restore faith and trust in the Union in a country where 52 percent of Italians “tend to distrust” the EU.
The Eurozone’s third-largest economy is one of EU’s founding members, with the union’s flag standing proudly atop state buildings nationwide.