ECB and EU pressing on Italy, approve Mes, everyone needs it

(ANSA) - ROME, APRIL 28 - Pressing by the ECB and the EU for Italy to ratify the Mes, the European stability mechanism.

Representatives of the main countries explained that ratification would be "good for everyone".

    The ratification also by Italy of the reform of the Mes "I think it would be positive because having a backstop (protection network, ed) in case of difficulty would be effectively useful to all the members who have ratified".

ECB President Christine Lagarde said.

    "In the times and ways that the Italian Government and Parliament decide, the Italian ratification of the Mes should not be indisputable. It was decided more than two years ago", said the European Commissioner for the Economy Paolo Gentiloni.

    For the president of the Eurogroup Paschal Donohoe "it is very important to underline that, while fully respecting the decision that Italy could take never to access the capacity that would be created by the ratification of the Mes, we need it to be ratified so that other countries can access it in case of need".

    Finally, the director of the Mes, Pierre Gramegna, underlined that there is "a timing problem, as the current bilateral backstop agreements will expire by the end of this year, therefore it is essential that the entry into force of the Mesmodified treaty with this backstop take place before the end of the year".

   (HANDLE).