(ANSA) – ROME, MAY 13 – Deputy Premier and Transport Minister Matteo Salvini said Tuesday that his League party will never accept Italy ratifying the reform of the European Stability Mechanism (ESM).
Italy is the only EU member not to have ratified the reform of the eurozone’s bailout fund, despite having come under intense pressure to do so.
The reform is controversial in Rome due to fears about its possible impact on fiscal sovereignty and the Italian government has also said the fund should be used to foster growth.
Many EU finance ministers at Monday’s Eurogroup asked Italy to ratify the reform, sources present told reporters, and European Economy Commissioner Valdis Dombrovskis stressed the importance of this.
“No,” Salvini said when asked about ratifying the ESM.
“Thanks in part to the firm stance of the League, which has always fought the MES since the time of (ex-premier Mario) Monti, parliament has already rejected the EU’s attempt to put this noose around our necks.
“We would have no advantage from its transformation into a ‘bank rescue’ fund because our banks are in excellent health.
“Since they insist on proposing this change, which the League will never ratify, we respond by proposing to liquidate the Italian quota and take back our 15 billion euros, with which we could lower taxes, make investments, and increase pensions, leaving the others free to do what they want”. (ANSA).
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Italy is the only EU member not to have ratified the reform of the eurozone’s bailout fund, despite having come under intense pressure to do so.
The reform is controversial in Rome due to fears about its possible impact on fiscal sovereignty and the Italian government has also said the fund should be used to foster growth.
Many EU finance ministers at Monday’s Eurogroup asked Italy to ratify the reform, sources present told reporters, and European Economy Commissioner Valdis Dombrovskis stressed the importance of this.
“No,” Salvini said when asked about ratifying the ESM.
“Thanks in part to the firm stance of the League, which has always fought the MES since the time of (ex-premier Mario) Monti, parliament has already rejected the EU’s attempt to put this noose around our necks.
“We would have no advantage from its transformation into a ‘bank rescue’ fund because our banks are in excellent health.
“Since they insist on proposing this change, which the League will never ratify, we respond by proposing to liquidate the Italian quota and take back our 15 billion euros, with which we could lower taxes, make investments, and increase pensions, leaving the others free to do what they want”. (ANSA).
Read article…
