Mes, past and future. Because ratification is in Italy’s interest

In recent days, even in this newspaper, a debate has risen from the past on the ratification of the reform of the European Stability Mechanism (Mes) by the Italian Parliament, the only one among European countries that has not yet done so. A debate that I believe belongs to the past because in essence it concerns a world that no longer exists. It is worth remembering the story briefly. The ESM was established by means of an intergovernmental treaty, outside the legal framework of the EU, in 2012, to help countries in temporary difficulty to finance themselves on the market. The decision on its establishment was taken in 2010 in the midst of the sovereign debt crisis triggered by Greece and was ratified by the Italian Parliament in 2012.