Brexit isn’t the only problem facing the EU. You may remember our report that Mario Draghi, head of the ECB, made a seemingly strangely-timed statement to some Italian politicians a short while back. Well, it turns out that his comments weren’t so out-of-the-blue as they seemed to us here in America. Italy’s populist movement has seized on the topic of local ownership of gold in a big way, and see the ECB as empowering themselves not member countries.
Last week, populist members of the Italian government moved ahead with their efforts to seize control of their country’s central bank and gold reserves, in direct opposition to Draghi’s statement. So once again, an apparently random report was the canary in the coal mine, and the EU has to work on placating Italy as well as dealing with Brexit.