2023-12-21 22:25:36
© Reuters. Prime Minister of Italy, Giorgia Meloni 12/12/2023 REUTERS/Remo Casilli
By Giuseppe Fonte and Angelo Amante
ROME (Reuters) – The lower house of Italy’s parliament voted on Thursday against a long-awaited reform of the euro zone’s bailout fund, casting doubt on the ratification of a European Union treaty aimed at providing aid to struggling banks.
The vote confirmed the deep hostility within Prime Minister Giorgia Meloni’s governing coalition to the review of the so-called European Stability Mechanism (ESM), which was approved by all other eurozone countries except Italy.
Paschal Donohoe, president of the Eurogroup of euro zone finance ministers, said he regretted the result and would continue to raise the issue with Italian authorities in the coming months.
“The finalization of the reform of the ESM Treaty is a key element of our common eurozone safety net, for the benefit of all eurozone member countries,” he said in a statement.
The vote will prevent Parliament from approving the same reform text within the next six months, Ylenia Lucaselli, from Meloni’s nationalist Brothers of Italy party, told reporters.
A source in Meloni’s office said the rejection could provide an opportunity for the EU to consider changes to the ESM more in line with the needs of the eurozone.
Meloni and the Minister of Economy, Giancarlo Giorgetti, were not in the Chamber this Thursday for the debate and subsequent vote, which saw the approval of the MEE defeated by 184 votes against, 72 in favor and 44 abstentions.
(Reporting by Giuseppe Fonte and Angelo Amante)
#Italian #parliament #rejects #reform #economic #stability #mechanism #angering #Brussels #Reuters