Martedì, 18 Settembre 2018

Italy will contribute 14.33 billion to ESM by 2014


(ANSA) - Rome, July 18 - Italy will contribute 14.33 billion
euros to the capital of the new European Stability Mechanism
(ESM) by 2014, Economy Minister Vittorio Grilli told the House
on Wednesday.
European leaders decided at a crunch summit on the eurozone
crisis in June that it will be possible for the ESM to be used
to support the bonds of countries facing soaring borrowing costs
to create a so-called anti-spread shield.
Italian Premier Mario Monti has said Italy does not need
such support at the moment, following recent pressure on the
nation's bonds on the money markets, but refused to rule this
out in the future.
Grilli said he was not worried by the fact that the EMS
will not be up and running by August.

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