ESM Reform Not a Priority, Lacks Democratic Control Says Tajani

Rome: Approving the reform of the European Stability Mechanism (ESM) is not a priority due to the current lack of democratic control over the eurozone’s bailout mechanism, stated Foreign Minister Antonio Tajani. His comments came as Italy faces renewed pressure to cease being the only member state that has yet to approve the reform.

According to Ansa News Agency, Deputy Prime Minister and Foreign Minister Tajani emphasized at a conference in Rome that “the ESM is not a priority, now the priority is to build peace.” When asked about Italy’s intentions to ratify the ESM, Tajani expressed that while they are not fundamentally against it, significant concerns remain about the absence of control and oversight over the fund.

Tajani, who is also a member of the centre-right party Forza Italia, indicated that the party would be prepared to support the ESM reform if there were mechanisms in place to ensure democratic control. Meanwhile, Deputy Premier and Transport Minister Matteo Salvini reaffirmed the League party’s stance, stating that they will never endorse Italy ratifying the ESM reform.