Domestic Policy
Meloni in Parliament: In her address to Parliament ahead of the European Council, Prime Minister Giorgia Meloni reaffirmed Italy’s full support for Ukraine, while ruling out the deployment of troops and advocating for a just peace achieved through dialogue. Meloni expressed opposition to the abolition of the veto right in Europe, viewing it as a safeguard for national interests. She defended the government’s foreign policy stance, rejecting accusations of subservience to the United States and asserting the autonomy and stability of her administration. The Prime Minister also emphasised the need to strengthen European defence to make the Union more sovereign and less dependent on other countries.
Ranucci Case: In her parliamentary speech, Interior Minister Matteo Piantedosi described the explosion of Rai journalist Sigfrido Ranucci’s car as a “grave attack”, condemning the act as “cowardly and criminal”. She stressed that this was an assault on press freedom and democratic values, but also criticised those attempting to blame the government, urging against turning the incident into a political tool.
Foreign Policy
Israel: The ceasefire in Gaza remains fragile, with the transition to a stabilization phase stalled due to the lack of agreement on an international security force. During the visit of US Vice President Vance, Israel ruled out the participation of Turkish troops, while the United States seeks to mediate between differing positions. Italy has also expressed readiness to contribute Carabinieri, pending clarification of engagement rules. Meanwhile, the Knesset preliminarily approved a law to extend Israeli sovereignty over the West Bank, prompting opposition from several Arab countries.
Ukraine Conflict: The United States has imposed new sanctions on Russian oil companies Rosneft and Lukoil, accusing Vladimir Putin of obstructing the end of the conflict in Ukraine. The European Union is also preparing a new package of measures, while Kyiv continues to suffer heavy bombardments, with civilian casualties and power outages. On the diplomatic front, the anticipated meeting between Trump and Putin appears to be postponed, while Zelensky supports the idea of freezing the war along the front line and seeks new military agreements with European countries.
Economy and Finance
Budget: The economic plan has been approved by the General Accounting Office and with the support of Giorgia Meloni, who expressed pride in the work of Economy Minister Giancarlo Giorgetti. However, tensions remain within the majority, particularly over the new taxation of short-term rentals, which raises the flat tax rate from 21% to 26% for those using online platforms—a measure that Forza Italia and the League intend to amend. Concerns and calls for caution also surround the intervention on bank dividends, with the ABI urging prudence. Giorgetti defends the logic of the measure, aimed at rebalancing the market and supporting families. Quota 103 and Opzione Donna remain excluded.
Banking System: Unicredit posted a new record with a quarterly profit of €2.6 billion and €8.7 billion in the first nine months of 2025, supported by trading and dividends. CEO Andrea Orcel confirmed the guidance of €10.5 billion for the year and announced new investments for future growth, ruling out acquisitions in the short term. Despite positive results, the share closed lower on the Milan Stock Exchange due to declining interest margins and expectations of higher tax contributions from the banking sector.