Edwards: ‘Waste of time' to save Italian bank; Get Italy Out of Euro

"It's a waste of time and effort to recapitalize the Italian banks, while Italy remains in the eurozone," Edwards said. The idea is that by leaving the currency union, Italy alone would be able to control interest rates and its currency, which could make it more competitive on the world stage. Some economists argue that the euro's current trading level only benefits Germany, while putting a squeeze on other nations that would benefit from a weaker exchange rate. By returning to the lira and devaluing it, Italy would make its products much cheaper for foreign buyers... Italy in my view will never grow within the euro. It's as simple as that."