European banking union is a better
tool for coping with crises than the European Stability
Mechanism (ESM), Premier Giorgia Meloni replied to Eurogroup
Chair Paschal Donohoe after the EU summit Friday.
"We discussed banking union and as a backstop the ESM is a sort
of supreme court, while baking union would be the courts of
first and second instance," she told reporters after Donohoe
again urged Italy to ratify ESM reform.
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