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Italy working on improving ESM reform, not considering veto: source

Kitco News

ROME (Reuters) - Italy is working on improving the reform of the European Stability Mechanism (ESM) bailout fund, an Italian government official said on Wednesday, adding that Rome is not considering putting its veto at the moment.

A draft of the reform was agreed by all euro zone finance ministers in June and is due to be finalised by leaders next month. However, senior Italian officials have warned that some measures could prove financially dangerous.

Italian media reported on Wednesday that Rome might seek to delay the ESM reform.

“We’re working on improving the accord, that’s what we’re doing at the moment. I wouldn’t raise the question of a veto,” the official said.

Reporting by Giuseppe Fonte; writing by Giselda Vagnoni

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