Italian Economy Minister Roberto Gualtieri said on Wednesday euro zone countries...
ROME - Italian Economy Minister Roberto Gualtieri said on Wednesday euro zone countries would probably sign off on a reform of the region’s bailout fund in February, rather than next month as previously planned.
Gualtieri told a parliamentary hearing the reform was substantially complete and could not be changed, triggering a furious reaction from the League. Gualtieri insisted the reform carried no dangers for Italy, unlike a separate proposal to limit euro zone banks’ exposure to a single sovereign and attach risk weightings to sovereign debt.
The League and some economists say the ESM reform is dangerous because it makes it more likely that Italy could have to restructure its huge public debt, proportionally the highest in the euro zone after that of Greece.
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