Italy's problem is debt, and the European Stability Mechanism is neither the cause nor the solution

ROME (Reuters) – The European Stability Mechanism is neither the cause nor the solution to Italy's problems, which should instead work to keep its public debt under control.

This was stated by Economy Minister Giancarlo Giorgetti in the Chamber's Budget Committee.

“The European Stability Mechanism is neither the cause nor the solution to our problem,” Giorgetti said. “Our problem is called debt.”

“We must focus on the fact that this debt, when it is so high and expensive, must be kept under control otherwise this country will not be able to do it, or at least it can do it by maintaining income and not rewarding those who produce,” he added. Minister.

Last week, the Chamber refused to ratify the ESM reform with a vote against the Brotherhood of Italy and the League, but also against the Five Star Movement, while the third majority party, Forza Italia, abstained.

However, Giorgetti emphasized that there was no internal disagreement within the majority at the time of the vote.

“First of all, I never said, neither in Parliament nor in the European Union nor in any other forum, that Italy would ratify the European Stability Mechanism,” the minister said today.

He added, “The sovereign parliament voted and voted as I expected in the European context.”

(Angelo Amanti, Editing by Federico Maccioni, Editing by Sabina Suzzi)