Candidate in Italian election reverses stance on euro exit

A populist candidate for Italy’s premiership says European Union rules for the euro currency must change, but he’s no longer backing a eurozone exit.

Luigi Di Maio, a leader of the opposition 5-Star Movement, said on a late-night TV talk show that ended Wednesday morning that he doesn’t believe “it’s the moment to exit” the single currency.

He said in follow-up remarks to private Italian Tgcom24 TV: “It’s time to modify the rules around the euro, not to exit from the euro.”

Last month, Di Maio said he’d back an exit from the euro if it were proposed in a “last-resort” referendum.

On Wednesday, he said “everything has changed” politically in Europe, citing Germany’s current inability to form a government, among other factors.

The 5-Star Movement criticizes eurozone austerity policies.