The European Commission hopes that
Italy will ratify the treaty for the reform of the European
Stability Mechanism (ESM) as soon as possible, a senior EU
official said on Monday ahead of Friday's Eurogroup meeting in
Santiago.
Italy is the only country holding out on ratification of the new
EU bailout mechanism amid concerns about its impact on budget
sovereignty and claims the fund should also be used to boost
growth.
"We are highly aware of the sensitive nature of the issue in
Italy and, obviously, we fully respect the parliamentary
process," the official said.
"But we are hoping for a positive conclusion to the process as
soon as possible".
The official said the EU expected Economy Minister Giancarlo
Giorgetti to give an update at the Eurogroup meeting about what
is happening in Italy and what to expect in the coming months.
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