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No fear of new debt crisis, Italian rates low - Regling

I never feared Italy would exit eurozone says ESM director

(ANSA) - ROME, OCT 4 - European Stability Mechanism (ESM) Managing Director Klaus Regling said Tuesday that he was not afraid of a new eurozone debt crisis flaring up, adding that he never had any doubts about whether Italy would remain in the eurozone.
    "I am not afraid of a new debt crisis," Regling told a bowing-out news conference with his term at the helm of the ESM about to end.
    "At the moment (heavily indebted) countries like Italy have public debt interest burdens at the lowest levels in their budgets for 30 years.
    "I never thought that Italy would exit the euro. Why should it have? "On the contrary to what many expected, Italy has never needed the ESM's money and it is a strong supporter of it "They said it would be our next client but that never happened and there is a good reason.
    "Looking at the figures, the countries that needed the ESM had major macroeconomic imbalances that did not exist in Italy".


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