ROME: Italian Prime Minister Giorgia Meloni on Thursday called the eurozone’s bailout fund “obsolete”, saying Italy’s failure to ratify a reform of the system was an opportunity to make it “more efficient”.MPs in the lower house of parliament last month rejected a motion to ratify the 2021 reform of the European Stability Mechanism (ESM), which strengthened the fund’s financial firepower and increased its authority to supervise countries in difficulty.Italy thus remains the only European Union country not to ratify the treaty, which cannot be implemented without approval by all national parliaments.Asked at a press conference how her hard-right government would respond, Meloni said there had
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