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- Italy's economy minister signals he is ready to back ESM reform
Italy's economy minister signals he is ready to back ESM reform
Reuters reports that Italian Economy Minister Roberto Gualtieri signaled that he was ready to back a delayed reform of the euro zone ESM bailout fund, telling parliament that its approval would not mean Italy wished to use it.
Euro zone countries agreed almost a year ago "in principle" on widening the responsibilities of the European Stability Mechanism (ESM) and ministers from the 19 countries sharing the euro currency are expected to give the deal a final go-ahead later on Monday.
"Today's decisions only concern the reform of the ESM, the early introduction of the common backstop and the positive assessment of the reduction of risks in the banking system. All these decisions do not in any way affect the use of the ESM," Gualtieri said.
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