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However, Italy says no: consequences for Europe

However, Italy says no: consequences for Europe

Faye abstained from voting

The vote establishes a division within the government majority, with the Forza Italia party indicating its different position from the rest of the center-right. “We want to express our abstention from voting on the proposed opinion against the ESM because the ESM would be an opportunity and not an obligation and because we must continue cooperation and continuous and constructive discussion with the European institutions,” explains the leader of the Italian group in the EU. Roberto Bella Montecitorio Budget Committee.

Salvini: The League has never changed its position

In his speech during the opening of the Leonardo da Vinci Bridge in Sasso Marconi (Bologna), Deputy Prime Minister and League leader Matteo Salvini stressed that “the League has never changed its mind about the European Stability Mechanism for twenty years, as it is a useless if not a harmful tool that could lead to the Italian worker having to To deposit money to rescue a German bank. I don’t think it’s helpful, and since the Parliament is sovereign, the Parliament votes on the basis of the Italian national interest: the Germans follow German interests, we follow the Italians’ interests. The association’s position has always been and remains clear.”

Opposition: The majority no longer exists

After V abstained from voting, the opposition attacked the government: “The majority no longer exists, and the government no longer exists.” Highlighting the split on the centre-right are, in particular, Piero De Luca of the Democratic Party and Luigi Marattin of Italia Viva, who are supporters of the ESM ratification bill.

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Chigi Sources: Now think about more beneficial changes in the European Stability Mechanism

The Government, which referred the matter to Parliament, takes note of the Montecitorio Council’s vote to choose not to ratify the amendment to the ESM Treaty. Sources at Palazzo Chigi reported this, stressing that «this is an integration of relative importance and relevance for Italy, since the main element provides for the extension of the scope of guarantees to systemic banks in difficulty, in a context in which the Italian banking sector is among the most solid in Europe and the West. In any case – and the same sources continue – the ESM is fully operational in its original form, that is, supporting member states facing financial difficulties. “The Italian Parliament’s choice not to go ahead with ratification could be an opportunity to start thinking at a European level about new and potential changes to the treaty, which would be more beneficial for the entire euro area.”

Eurogroup: We regret Rome’s decision regarding the European Stability Mechanism

“I have taken note of the vote taken today by the Italian Parliament on the ratification of the European Stability Mechanism Treaty. “While I fully respect the parliamentary deliberations, I regret the result,” said Eurogroup President Paschal Donohoe. “Italy remains the only country that “It prevents the reform we have all committed to being completed in 2021,” he said, highlighting that it is “an essential element of the euro area’s common safety net, for the benefit of all member countries.” The Eurogroup President added: “I will continue my commitment in this regard with the Italian authorities in the coming months.”

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