New bond shows ESM isn't necessary or useful - Salvini

(ANSA) - ROME, JUN 10 - Deputy Premier and Transport and Infrastructure Minister Matteo Salvini said Saturday that the success of the new BTP Valore bond issued by the Treasury this week shows there is no need for the European Stability Mechanism (ESM).
    Rome is under pressure from the EU to ratify the reform of the ESM bailout fund.
    Italy is the only country not to have done so, with the government arguing that the mechanism should also be used for purposes other than as a bailout, such as to promote investment and growth.
    "The record registered with the BTP Valore is an indication of the Italian people's confidence in the country", Salvini said at the 'Italy to Come' forum at the Masseria Li Reni resort in the southern city of Manduria hosted by veteran Italian journalist Bruno Vespa.
    "The ESM, on the other hand, is an instrument that is neither useful nor advantageous for Italy and Europe".
    The BTP Valore Treasury bond exclusively for small Italian investors had attracted over 18 billion euros of subscriptions by the close of issue on Friday.
    The League leader also attacked European Commission Vice President Frans Timmermans over the EU's plans to stop the sale of new petrol and diesel cars in the bloc by 2035, saying he should be "sectioned" over his "ideology" on electric vehicles.
    He said work on a bridge across the Strait of Messina to connect Sicily to mainland Italy should start in spring 2024. (ANSA).