German Ifo think tank chief says Italy risks quitting euro zone

The head of Germany's Ifo economic institute believes Italians will eventually want to quit the euro currency area if their standard of living does not improve, he told German daily Tagesspiegel. "The standard of living in Italy is at the same level as in 2000. If that does not change, the Italians will at some stage say: 'We don't want this euro zone any more'," Ifo chief Clemens Fuest told the newspaper.