12/06/2023 (Agence Europe) – There is no point in ratifying the treaty revising the European Stability Mechanism (ESM) if we don’t know what the new rules of the Stability and Growth Pact will provide for, said the Italian Prime Minister, Giorgia Meloni, on Friday 9 June. Even if Italy ratifies the treaty revising the euro area’s permanent rescue fund, the latter will not be mobilised for any other euro area country, she added, arguing that placing the ESM under financial guardianship would stigmatise the country calling on it. Ms Meloni also regretted that the financial power of the rescue fund could not be used to stimulate growth in euro area countries. On Friday 16 June in Luxembourg, the Ecofin Council will hold an initial policy debate on the reform of the Pact (see EUROPE 13170/1). (MB)