The vote confirmed the deep hostility within Prime Minister Giorgia Meloni’s ruling coalition to the overhaul of the so-called European Stability Mechanism (ESM), which has been approved by all other euro zone countries bar Italy.

Paschal Donohoe, president of Eurogroup of euro zone finance ministers, said he regretted the outcome and would continue to engage on the issue with the Italian authorities in the coming months.

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Source: https://www.reuters.com/world/europe/italian-coalition-parties-vote-against-esm-reform-partl-committee-2023-12-21/

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Italy has formally notified China of its withdrawal from Beijing’s ambitious belt and road infrastructure initiative (BRI), a significant trade and infrastructure project, according to two government sources.

The decision, which had been expected for some time, was reportedly communicated to Beijing three days ago, although no official communication has been released by either side.

The Italian prime minister, Giorgia Meloni, has long been critical of the project and had expressed her intention to withdraw from the deal, seen by many as an effort by China to buy political influence but having limited benefits for Italy.

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Source: https://www.theguardian.com/world/2023/dec/06/italy-to-withdraw-from-chinas-belt-and-road-initiative-say-sources

The post Italy to withdraw from China’s belt and road initiative, say sources first appeared on Garner Ted Armstrong Evangelistic Association.