The European Commission hopes that Italy will ratify the treaty for the reform of the European Stability Mechanism (ESM) as soon as possible, a senior EU official said on Monday ahead of Friday's Eurogroup meeting in Santiago. © ANSA
- ROME, SEP 11 - The European Commission hopes that Italy will ratify the treaty for the reform of the European Stability Mechanism as soon as possible, a senior EU official said on Monday ahead of Friday's Eurogroup meeting in Santiago.
Italy is the only country holding out on ratification of the new EU bailout mechanism amid concerns about its impact on budget sovereignty and claims the fund should also be used to boost growth. "We are highly aware of the sensitive nature of the issue in Italy and, obviously, we fully respect the parliamentary process," the official said. The official said the EU expected Economy Minister Giancarlo Giorgetti to give an update at the Eurogroup meeting about what is happening in Italy and what to expect in the coming months.
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