Italy's decision not to ratify the
reform of the European Stability Mechanism (ESM), the EU's
bailout mechanism for states, is an opportunity to make it more
effective, Premier Giorgia Meloni said on Thursday.
"The ESM is an instrument that has existed for a long time and I
think that the markets' reaction (to the decision not to ratify
the reform treaty, ed.) reflects an awareness of the fact that
it is obsolete," Meloni told reporters at her end-of-year press
conference in Rome.
"Perhaps Italy's failure to ratify (the ESM) can become an
opportunity to transform it into something more effective," she
added, reiterating that the government "deferred to the House"
on the matter.
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