Furore erupts in Italy over euro zone bailout fund reform

Euronews | Nov 19, 2019 at 7:04 PM
  • Proposals to reform the euro zone’s bailout fund are creating a political storm in Italy, where parties and institutions are battling over whether Rome should try to block the reform at the EU level.
  • This would involve turning the bailout fund, known as the European Stability Mechanism (ESM), into a sort of European Monetary Fund that would make support for countries in financial crisis conditional on them restructuring their debt.
  • Prominent economists, including Carlo Cottarelli, a former International Monetary Fund and Italian government official, have expressed similar concerns, and the issue now also threatens to divide the government.
More sources
  • Furore erupts in Italy over euro zone bailout fund reform (Reuters: Nov 19, 2019 at 4:27 PM)