(Finance) – “I will continue to support the cause of ratification of the ESM treaty”the bottom saves states, on the part of Italy. This was stated by the president of the Eurogroup, Paschal Donohoe, speaking to the press upon his arrival at the European Council, this morning in Brussels, to participate in the Eurosummit meeting explaining that “This treaty is a really important element in how we can deepen the Banking Union; in particular it will ensure that the ESM, which is our crisis management tool, will have access to new funds worth many tens of billions of euros in the future if necessary.”
“It is in everyone’s interest – continued Donohoe – that the ESM is ratified, and I will continue to work in close contact with Minister Giancarlo Giorgetti on this. I continue to realize that this is a delicate issue in Italian politics. I know that the matter has been much discussed within the Italian Parliament, and I have full respect” for this discussion. “But the priority that we must all face – underlined the president of the Eurogroup – is that, if the Treaty is not ratified by everyone, no country will be able to access it in the future, should we find ourselves in a crisis situation.”
“I think all leaders are aware of the importance of the treaty,” even if it is a topic that “is mainly discussed at the level of finance ministers, in the Eurogroup. I have an excellent relationship with minister Giorgetti. But even if Italy decides that it does not want to use the ESM in the future, a decision that it absolutely belongs to it, I think everyone would understand; on the other hand, there are perhaps other countries that could decide to use it this tool in the future, and this treaty is to make that possible,” Donohoe concluded.