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ESM is very profitable for Italy – Gentiloni – England | Instant News


(ANSA) – ROME, 28 SEP – Commissioner for Economic Affairs Paolo Gentiloni reiterated Monday that he thinks Italy would be wise to apply for money from the European Stability Mechanism (ESM) to invest in its health system.

Supporters of Prime Minister Giuseppe Conte’s government are divided on whether to take the option to raise around 36 billion euros in low-interest grants from the European Union’s bailout fund.

The center-left PD supports it but the 5-Star Movement (M5S) opposes on fears money could come with ties further down.

“I have repeated several times that the work done in Brussels (on the ESM) has removed the existing requirements of the general economic program of the last decade,” said Gentiloni.

“So this loan is not subject to conditions.

“The decision is in the hands of each government.

“But Italy certainly needs to improve its health system, which showed itself very well during the crisis, but the need for improvement is highlighted.

“Italy is definitely one of the countries that can benefit more than any other country, considering our interest rates”.

(ANSA).

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