• Italian coalition parties modify demands for ESM debt restructuring terms

Market news

11 December 2019

Italian coalition parties modify demands for ESM debt restructuring terms

Parties in Italy’s ruling coalition have dropped demands for a veto on part of a planned reform of the EU’s bailout fund that could make it easier to secure agreement on restructuring public debt of countries seeking help from the fund.

Previously the parties had rejected so-called single limb collective action clauses that allow a single vote to be taken on restructuring bonds of countries seeking a bailout under the European Stability Mechanism (ESM).

A final version of a resolution by the anti-establishment 5 Star Movement and the center-left Democratic Party on Wednesday dropped demands for a veto on the single limb clause contained in a draft form of the resolution.

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.