March 24, 2020 / 3:31 PM / 12 days ago

Italy says eurozone bailout fund should be used with no conditionality

FILE PHOTO: Italy's Minister of Finance Roberto Gualtieri attends a one day Italo-Franco summit in Naples, Italy February 27, 2020. REUTERS/Ciro De Luca/File Photo

ROME (Reuters) - Italian Economy Minister Roberto Gualtieri said on Tuesday that the euro zone’s bailout fund, the European Stability Mechanism, should be used to help economies hit by the coronavirus crisis, with no strings attached.

“We must use all the resources available at the EU level, including the ESM, without any conditionality,” Gualtieri told parliament.

The minister added that the EU should consider issuing a common debt instrument, or safe asset, something so far resisted by some of its richer members.

Reporting by Giuseppe Fonte, Gavin Jones, editing by Giulia Segreti

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