European Stability Mechanism (ESM)
Managing Director Klaus Regling said Tuesday that he was not
afraid of a new eurozone debt crisis flaring up, adding that he
never had any doubts about whether Italy would remain in the
eurozone.
"I am not afraid of a new debt crisis," Regling told a
bowing-out news conference with his term at the helm of the ESM
about to end.
"At the moment (heavily indebted) countries like Italy have
public debt interest burdens at the lowest levels in their
budgets for 30 years.
"I never thought that Italy would exit the euro. Why should it
have?
"On the contrary to what many expected, Italy has never needed
the ESM's money and it is a strong supporter of it
"They said it would be our next client but that never happened
and there is a good reason.
"Looking at the figures, the countries that needed the ESM had
major macroeconomic imbalances that did not exist in Italy".
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