Bank of Italy Says There's No Risk in Using ESM Funds

The transcript discusses the need for economic reforms to boost growth, emphasizing that monetary policy alone cannot achieve this. It covers Italy's potential use of ESM funds, noting they come without strings attached but are still loans. The discussion also touches on the ECB's monetary policy, the timeline for unwinding special measures like PEP, and the resilience of the banking system in handling non-performing loans, highlighting improvements since past financial crises.

What measures does the speaker suggest are not substitutes for increasing the rate of growth?

What does the speaker imply about the timeline for achieving price stability?

What is the speaker's view on the quality of credit in the Italian banking system?