Domestic Policy
Excise Duties: The war in Iran has reignited fears of a global energy crisis, prompting the government and opposition to discuss measures against rising fuel prices. The Prime Minister, Giorgia Meloni, has opened the door to the proposal by the leader of the Democratic Party, Elly Schlein, to activate variable excise duties to reduce the price of petrol and diesel, while a task force monitors price hikes and speculation. The Minister of Economy, Giancarlo Giorgetti, has confirmed the possibility of adopting a 2023 regulation. Tensions in the Strait of Hormuz, through which approximately 20% of the world’s oil passes, have already pushed up crude oil prices, fueling fears of further energy price increases.
International Women’s Day: On the occasion of International Women’s Day, numerous institutional initiatives are taking place in Italy. The main event will be held at the Quirinale, with the President of the Republic, Sergio Mattarella, and will be dedicated to women’s suffrage in the 1946 Italian institutional referendum. Personalities from the scientific, cultural, and artistic worlds will speak, including Amalia Ercoli Finzi and Malika Ayane. Among other initiatives: free entry to state cultural sites, a conference at the Chamber of Deputies on the struggle of Iranian women with Shirin Ebadi, and Italian participation in the work of the UN Commission on the Status of Women.
Foreign Policy
Iran: Iranian President Masoud Pezeshkian has rejected the surrender demand made by Donald Trump, stating that Iran “will never surrender” to the United States and Israel. Pezeshkian has apologised to neighbouring countries for attacks on their territories, but new bombings and missile interceptions have been reported in the Gulf, between Saudi Arabia, Bahrain, and Qatar. The conflict has thus entered its second week, with uncertainty surrounding Iran’s future political leadership: the most favoured candidate for Supreme Leader, Mojtaba Khamenei, is said to have been injured in the attacks, and there is no news of him.
Lebanon: The Italian government has begun the evacuation of “non-essential” civilian personnel from the UNIFIL mission in Lebanon, while the military presence remains operational. The Minister of Defence, Guido Crosetto, is also considering the possible withdrawal of around 1,000 Italian soldiers in the event of further escalation between Hezbollah and Israel. On the diplomatic front, the Minister of Foreign Affairs, Antonio Tajani, is coordinating an initiative with other European countries to ensure the safety of blue helmets. Prime Minister Giorgia Meloni has reiterated that Italy is not a party to the conflict, while the government aims to avoid escalation and foster a resumption of negotiations with Iran.
Economy and Finance
Interview with Pichetto Fratin: In an interview published in La Stampa, the Minister of Environment and Energy Security, Gilberto Pichetto Fratin, explained that Italy remains vulnerable in terms of energy: “We depend very much, too much, on gas.” The minister emphasised that energy prices are influenced by European gas prices, recalling that “the gas problem is represented by prices at the European level, the so-called TTF”. To counter any fraudulent speculation, Pichetto Fratin explained that “all state bodies, ministries, authorities, and the Guardia di Finanza are called upon to intervene”.
Monte dei Paschi di Siena: Monte dei Paschi di Siena has finalised the list of candidates for the new board of directors after 14 meetings of the Nominations Committee and 8 of the board. From the 20 names proposed, the 12 on the majority list will be selected. The current CEO, Luigi Lovaglio, remains excluded, while Fabrizio Palermo, Corrado Passera, and Carlo Vivaldi have been proposed to lead the institution. President Nicola Maione has consulted shareholders, while the European Central Bank has raised concerns regarding the timeline and required expertise. The assembly on 15 April will also vote on the new board remuneration and the path related to the merger with Mediobanca.