In a move that will spark fears across the EU of an “Italexit”, three of the country’s political parties are backing the introduction of “Fiscal Credit Certificates” as an alternative to the euro.

The complex plan has the approval of the European Central Bank.

Among the parties backing it is Silvio Berlosconi’s Forza Italia, which has enjoyed an astonishing comeback in the polls.

The revelation comes as Martin Schulz, the leader of Germany’s Social Democratic party who is tipped to become Chancellor Angela Merkel’s deputy, last week called for the creation of a United States of Europe by 2025.