Italy’s political situation was a sign of “disruptive politics”, Finance Minister Edward Scicluna said on Monday, warning that while this could be positive it could also spell trouble for the common European currency.

He was clarifying comments he made to reporters when entering a meeting of eurozone finance ministers in Brussels last week.

Prof. Scicluna had raised eyebrows when he was reported telling journalists Italy could potentially trigger another sovereign debt crisis like the colossal Greek collapse in 2010.

The Greek crisis started in late 2009, triggered by a recession and revelations that data on debt levels and deficits had been underreported by Athens.

Prof. Scicluna was also reported saying that if the policies of a new Italian government focused on more spending rather than debt reduction, trouble could be on the horizon for the eurozone once again.

“If... it is just a question of spending and spending and borrowing and spending then, unfortunately, it will be a replay of Greece,” he told reporters last week.

He said on Monday he felt that while there could “definitely be a lot of good that can come out of political disruptions”, such as a needed wake-up call for the political establishment, there could also be a lot of “bad”.

“My concern is that if the position adopted does not address national debt in Italy, then this will lead to a situation that is of concern, not only to Italians but also to us and the rest of the eurozone,” he said.

Meanwhile, a standoff over Italy’s future in the common currency union has forced the resignation of prime minister-in-waiting, Giuseppe Conte.

Italian President Sergio Mattarella, who had been installed by a previous pro-EU government, refused to accept the nomination as finance minister of Paolo Savona, 81, a former industry minister who has called Italy’s entry into the euro a “historic mistake”.

Prof. Scicluna said eurozone authorities and financial markets had been worried about the impending arrival of the new coalition government in Rome for some time.

Malta should also be concerned about the possibility of Italy following in Greece’s footsteps, he said.

Italy has been without a government since elections on March 4 ended in a hung Parliament.

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