Rome
Italian Prime Minister Giuseppe Conte dismissed criticisms of planned reforms to the euro zone bailout fund on Wednesday, saying the proposals, which have been heavily attacked by right-wing opposition parties, posed no threat to Italy. Critics of the planned changes to the European Stability Mechanism say they would make it more likely that Italy will have to restructure its debt, the highest in the euro area as a proportion of national output after Greece’s. “Italy has nothing to fear … its debt is fully sustainable, as the main international institutions, including the (EU) Commission have said,” Conte told parliament ahead of a European Council meeting this week to discuss the reform. He repeated that Rome would not agree to any restrictions on banks holding sovereign debt.— Reuters
