Italy is "not blackmailing anyone" by
holding out on approving the reform of the European Stability
Mechanism (ESM) EU bailout fund, the only country not to have
OK'd it, Economy Minister Giancarlo Giorgetti said Friday.
He said the Italian parliament had decided not to proceed with
it, but "it could change this position if some things change,
thinking that the ESM could also have other purposes than the
reasons for which it was born."
Rome has said the ESM could be used to boost investment and
growth, foe instance.
"We're not blackmailing anyone by putting one thing on a par
with another, I'm confident that a solution will be found".
European Economic Affairs Commissioner Paolo Gentiloni on
Thursday urged Italy to OK ESM reform, saying that the fund was
"not SPECTRE", the evil criminal global network in the James
Bond franchise.
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