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Economy Minister Giancarlo Giorgetti
said Friday that there was no question at the moment of the
Italian parliament ratifying the reform of the European
Stability Mechanism.
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 here 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.
"Parliament is not in a position to be able to approve it or not
approve it," Giorgetti said his way out of the Ecofin meeting in
Luxembourg.
"There is not much hope of ratifying it.
"Let's say that it's not possible in the short term.
"In the long term, it depends on whether it changes, whether it
improves, whether it changes nature in the way we have always
asked".
Giorgetti was asked about the concerns he raised on Thursday at
the ESM's council of governors about Italy's recent treatment
and the EU founder nation's exclusion from important decisions
on the future of the Union.
He reportedly stigmatised the "absolutely mistaken exclusionary
pact" and the "prejudicial attitude towards our country".
On Friday he explained that: "I simply said that introducing the
issue of the ESM ratification at the moment seemed a bit like
rubbing salt into a wound".
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