Italy in favour of using ESM bailout fund with no conditionality - source

Italy is in favor of allowing the euro zone's ESM bailout fund to provide financial support with no conditionality to the economies hit by the coronavirus outbreak, a government source told Reuters on Tuesday. Eurozone finance ministers will discuss later in the day proposals by the European Commission to make use of the ESM to fight the economic impact of the pandemic.

"We need all available resources, including those of the ESM but without any conditionality," said the source, asking not to be named because of the sensitivity of the matter. Rome also supports the issuance of European Union bonds to fight the coronavirus emergency hobbling the bloc's economies, added the source.