The European Stability Mechanism
bailout fund "did not work in Greece, just think today," Foreign
Minister Luigi Di Maio said Wednesday reiterating Italy's
request for coronabonds to share the risks of the coronavirus
pandemic.
"The ESM is a way of saying to countries, we'll give you a
tool, but then you have to look after yourself. We, on the other
hand, are proposing to European States share the risks now, in
order to share the opportunities in the future".
Germany and other northern European deficit hawks are
proposing using the ESM for the crisis, a proposal Italy has
rejected.
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