Brussels, 26/08/2002 (Agence Europe) - Italy is proposing that a one euro note should be created to make the value of European currency more obvious to consumers and traders, and thus help to stabilise prices. "We are seeking to convince Europe to make a one euro note, in the same way as there is a one dollar note", said Giulio Temonti, Minister for Economy and Finance in Silvio Berlusconi's government, in an interview broadcast on Saturday evening by the state television channel, RAI 3. "It is very important to stabilise values. There is a tendency not to give much value to coins, unlike notes", he argued.
The polemic over the rising cost of living is raging in Italy. The rise is partly attributed to the conversion of prices into euros as practised by Italian traders to the detriment of buyers. The publication of the latest provisional consumer price index (+2.3% in August) sparked a general protest from consumers and trade unions, with the latter wishing to review branch contracts. The Italian debate caused the president of the European Commission, Romano Prodi, to argue in favour of the euro on Saturday, during a catholic gathering in Rimini (on the Adriatic coast).