Italian Prime Minister Giorgia Meloni took aim at the EU's financial institutions on Thursday, telling the European Central Bank (ECB) to be more careful in the way it communicates and saying the euro zone's bailout fund serves no useful purpose.
During a three-hour, end-year news conference Meloni said the ECB should avoid making "choices that make things worse" for the bloc's economy, adding her voice to criticism leveled at the bank this month by some ofAt its last meeting the ECB raised its benchmark interest rate by 50 basis points as widely expected, but also signaled that more hikes would follow in the coming months, triggering a sell-off of Italian government bonds.
Turning to the euro zone's bailout fund, Meloni gave no indication on whether Italy would ratify a treaty revamping the so-called European Stability Mechanism , and said she believed nobody would ever use the fund in its present form. Meloni, who took office in October at the head of a right-wing coalition, said that "rather than ratifying the reform" she wanted to meet the director of the ESM to see if it was possible to put the fund to a different use.
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