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November 19, 2019 "There is no emergency, the government is ready to take time, even if the discussion is postponed unless an overall European agreement is found". This is what government sources say about the controversy over the revision of the Treaty on the European Stability Mechanism (MES). The Economy Minister Roberto Gualtieri will explain to the Chambers the position of the executive. The theme will probably be addressed at the December European Council but Italy will reiterate what has already been underlined in recent months, namely that a comprehensive reform is needed. Therefore it is not excluded that the government can veto, but more will be aimed at taking time, it is explained. With a clear line: Parliament will decide. Moreover, the prime minister has already spoken to the chambers on hearing on 21 June. Today, however, even the M5s deputies of the House Finance Committee have asked political leader Luigi Di Maio to promote a majority summit on the dossier.

FI: silent Chigi palace
"With regard to the affair of the Mes," paper sings "and Palazzo Chigi is, at best, silent and embarrassed. On June 19, the House approved a resolution that committed the government to inform the Houses of the proposed changes to the Mes treaty, drawn up at European level, in order to allow Parliament to express itself with an address and consequently suspend any definitive determination until the Parliament has pronounced ". Not only that, the same resolution expressly committed the government to" not approve 'penalizing changes for the European states that most need structural reforms ". Thus, in a note, the deputy of Forza Italia and spokesman of the blue groups of the Chamber and Senate, Giorgio Mulé. "Having said this - he adds - it is evident not only that Italy had to oppose in Europe a text that entails 'enormous risks' (as expressly stated by the governor of Bankitalia) for Italian interests, but that postpone such discussion in Parliament in 'ratification center' means emptying the chambers of any decision-making role. : 'Italy does not subscribe to the reform of the Mes' ".

Salvini, transformed into a fund to kill States
"From the Salva Stati fund it becomes an Ammazza Stati fund". Matteo Salvini says it. "It would massacre the savings of the Italians and for this we asked Conte if the savings of the Italians are at risk".

Sassoli, on the Mes he treated Tria, Salvini will have rethought us
"I don't want to go into national matters, certainly the government will be able to tackle the issue. The state-saving mechanism is important and has given very important results. It makes me especially think that the forces that have contracted it want to discuss it, because the negotiation was carried out by Minister Tria. Now perhaps Salvini will have rethought us, but I leave the debate to the national field ". Thus the President of the European Parliament, David Sassoli, hosted the "La Bussola" program on Rainews.

What is the Mes
A sort of monetary union of the European Union to support member countries in the event of a financial crisis and default risk. It is one of the objectives that pushed euro zone leaders to start the reform of the European Stability Mechanism (MES) which should be concluded with the approval of a new treaty at the European summit in December, after the agreement reached the last June at the Eurogroup. The aim is to allow the State Savings Fund to grant credit lines to Member States that are in difficulty on the markets and become the lender of last resort for banking crises: the Mes should be transformed into a sort of European Monetary Fund and serve as the at the same time as a safety net for the Single Resolution Fund of banks in crisis.

Born with the Greek crisis
The Mes was born during the euro zone crisis based on the European Financial Stability Fund that was created in 2010 for Greece. Entered into operation in 2012 and directed by the German Klaus Regling, the Mes has an authorized capital of 700 billion euros, of which only 80 have actually been paid by the Member States: Italy is the third largest supporter with a contribution of 14 billion of Euro.

The reform
According to the reform agreed with the Eurogroup, the Mes should have two instruments: a "precautionary conditional credit line" and a "credit line with enhanced conditions". Both will be available to euro area Member States with sound economic fundamentals, but which could be affected by adverse shocks beyond their control. The "conditional precautionary credit line" is reserved for Member States where the economic and financial situation is fundamentally strong and whose public debt is sustainable. The "credit line with enhanced conditions" is instead reserved for countries whose economic and financial situation remains healthy.

Ratification
The new MES reformed treaty should come into force once it is ratified by the parliaments of all 19 euro area member states. The ratification process should start after the formal agreement on the text of the new treaty and the other related documents on which the December European Council will express itself.