No risk of contagion from Greek vote: Italy economy minister

No risk of contagion from Greek vote: Italy economy minister
Greek Prime Minister Antonis Samaras speaks to journalists as he arrives ahead of the European Union summit at the EU headquarters in Brussels on December 18, 2014.

Italian Economy Minister Pier Carlo Padoan said on Thursday that possible fallout from Greece's political showdown would not trigger a euro zone debt crisis like the one that pushed Italy close to default three years ago.

"Greece in 2015 is not the same as it was in 2010-2011," Padoan said at a conference in Rome. "There is absolutely no risk of contagion for us."

The Greek parliament held a first round of voting on Wednesday, failing to elect a new president. There will be two further rounds of voting, ending on Dec. 29, which could lead to a snap election if parliament cannot elect a new president.

Polls suggest the election would be won by the leftist Syriza party, which promises to renegotiate the international bailout accord Greece still needs to keep its finances afloat.

More about

Purchase this article for republication.
Your daily good stuff - AsiaOne stories delivered straight to your inbox
By signing up, you agree to our Privacy policy and Terms and Conditions.