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.
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