Domestic Policy
Peter Thiel: Peter Thiel, American billionaire and co-founder of PayPal and Palantir, arrives in Rome to deliver lectures on the Antichrist before a select audience. An ideologue close to Trumpism, he interprets the Antichrist as residing within institutions and figures that promote technological regulation, such as global governance and climate policies, which he views as threats. Critical of certain religious and political leaders, he argues that the force capable of countering the arrival of the Antichrist is not the Church but technology companies. The initiative has raised doubts even within Italian government circles and the right, with both Palazzo Chigi and several ministries ruling out meetings with the magnate.
Interview with Carlo Nordio: One week before the vote on the constitutional reform, Justice Minister Carlo Nordio provides an update on the most significant open issues in an interview with Il Sole 24 Ore. Regarding the strong polarisation of the referendum campaign, the Minister observes that “we did not confer a political meaning on the referendum”. As for the draw of CSM members, Nordio points out that it “is not at all a representative body like Parliament, but solely one of high administration. The draw will take place within a pool of magistrates already assessed multiple times”. On the possibility of the Ministry disciplining magistrates, the Minister of Justice states that “I would abolish the Minister’s power of disciplinary initiative, attributing it solely to the Prosecutor General of the Court of Cassation”.
Foreign Policy
Iran: Donald Trump has asked several countries—including China, the UK, France, Japan, and South Korea—to join the United States in ensuring the security of the Strait of Hormuz, which Iran has closed following attacks it suffered. The blockade threatens approximately 20% of global oil traffic and has pushed crude oil prices above $100. Washington is considering a military reinforcement in the area, while Tehran accuses the US of weakness, stating it will restrict passage only to ships from “enemies”. Italy rules out participation in the war and supports a multilateral and diplomatic solution to avoid the expansion of the conflict.
Sanctions on Russia: The debate over sanctions on Russia is dividing Italian politics, particularly the governing majority. Following Donald Trump’s announcement of his intention to reopen purchases of Russian oil, the League and Roberto Vannacci’s Futuro Nazionale have aligned with him. Conversely, Forza Italia and the centrists, led by Antonio Tajani and Maurizio Lupi, defend maintaining measures against Moscow. Giorgia Meloni remains cautious but confirms the European line of pressure on Russia. The progressive opposition is largely in favour of sanctions, while the M5S shows openness to revision.
Economy and Finance
Central Banks: The war in Iran and the blockade of the Strait of Hormuz are pushing oil prices above $100 and creating uncertainty for central banks. The Federal Reserve and the European Central Bank are not expected to change rates immediately, but markets anticipate possible hikes if energy inflation persists. High oil prices risk slowing growth and increasing inflation, particularly in the Eurozone, creating the risk of stagflation. Central banks thus face a dilemma: raise rates to contain prices or cut them to support the economy. Everything will depend on the course of the conflict and the price of crude oil.
Banks: According to the report by the Italian Banking Association, in February 2026 bank loans to households and businesses in Italy grew by 2.1% year-on-year, continuing the positive trend that began in 2025. Average rates on new loans are falling, both for businesses and for mortgages. Bank deposits are also increasing. However, the President of the Association, Antonio Patuelli, warns of risks linked to inflation and calls for urgent monetary and fiscal policy interventions to support households and businesses.