ECB's Weidmann: Italy market turmoil shows currency union not yet crisis proof

The European Central Bank policymaker and the head of Germany's central bank, Jens Weidmann, has recently delivered a speech in Brussels, during which he commented on the latest political drama in Italy and what it resembles for the shared currency.

Key quotes (via Reuters)

• The currency union is not yet crisis-proof in a durable way.
• The financial market turbulence in Italy over the past week illustrates that.
• It would be "tragic" if the reforms and fiscal consolidation achieved during the crisis were rolled back.