Italy: How to pay off national debt by leaving the Euro

Marco Saba, an economic commentator, proposes a provocative idea: abandon the euro and reinstate a new national currency (the florin). Saba argues that, at the time of the change, Italy could collect all the euros in circulation, use them to pay off the national debt and create a more favorable financial situation. The idea, however, clashes with the objection that the euro would not cease to have value even after the change, and therefore could be used to pay off the national debt without needing a new currency. Saba defends himself from this objection by arguing that, on the contrary, the change would allow the accumulated euros to be used to pay off not only the 'public debt', but also other debts in euros, obtaining a significant financial advantage for Italy.