Domestic Policy
Acca Larentia: Yesterday, during the commemoration of Acca Larentia, Giorgia Meloni reiterated the importance of “genuine national reconciliation,” condemning political violence. The ceremony was followed by an attack on four members of Gioventù Nazionale, who were beaten with clubs and knives by a group of left-wing extremists. The Prime Minister spoke of “dissent turning into aggression,” while Senate President Ignazio La Russa referred to “serious political hatred.” The commemoration was also marked by a gathering of neo-fascists displaying Roman salutes and controversial symbols, prompting the Democratic Party (PD) to demand concrete action against fascism.
Early Elections: The idea of early elections in Italy is circulating, speculated following the government’s potential success in the justice referendum. The strategy would be to capitalise on the momentum of victory to consolidate support, advancing elections by a year from their natural 2027 expiry. The proposal, attributed to Giovambattista Fazzolari, also responds to concerns regarding the economy, unstable allies such as Salvini, and the end of the PNRR. However, the government remains cautious, as any premature move could be perceived as capricious, disrupting the stability achieved.
Foreign Policy
Oil Tanker Seizure: The United States has seized two oil tankers—the Russian-flagged Marinera and the China-registered Sophia—both involved in Venezuelan oil trafficking. The operation has provoked anger from Moscow and Beijing. Washington justified the seizure by stating the vessels were engaged in illegal activities, but the action also carries geopolitical implications, aiming to deprive Russia and China of crucial resources and to defend U.S. influence in Latin America.
Greenland: The “Greenland case” is heating up. Yesterday, U.S. Secretary of State Marco Rubio confirmed that the White House is considering various options to gain control of the island, including the possibility of purchasing it, while also noting that the use of force is not ruled out. Rubio also announced a meeting with the governments of Greenland and Denmark after months of requests. On the European side, France and Germany are collaborating with Denmark to defend Greenland’s sovereignty, while the EU has reiterated that it will not accept violations of international law.
Iran: Protests in Iran, triggered by inflation and the collapse of the rial, have intensified in recent days, spreading across multiple cities including Tehran, Abadan, and Kermanshah. The demonstrations, calling for political and economic reforms, are mostly peaceful, but episodes of violence have occurred, resulting in 27 protester deaths and 3 police fatalities. The government has imposed severe repression, with over 1,500 arrests. President Pezeshkian, while calling for de-escalation and a moderate response, remains constrained by the powers of hardliners and the Revolutionary Guards, who control security and the economy.
Economy and Finance
Mercosur: The Italian government is preparing to approve the free trade agreement with Mercosur, with signing expected next week. Agriculture Minister Francesco Lollobrigida expressed a positive opinion on the deal, securing favourable amendments from the European Commission, such as the temporary suspension of fertiliser tariffs and the potential retroactive application of the Carbon Tax suspension. However, Italy and France are requesting a reduction in the threshold to activate the “emergency brake” on agricultural products, lowering it from 8% to 5%. The League remains opposed, deeming protections for Italian farmers insufficient. Despite opposition, Confindustria and Coldiretti acknowledge the benefits for exports and the protection of Italian geographical indications.
Stellantis: Stellantis production in Italy is sharply declining, with 2025 recording only 213,706 vehicles produced—a figure even lower than Fiat’s output in 1955. Overall vehicle production has dropped by 20%, with significant losses across many plants, except Mirafiori, where production of the hybrid 500 led to a 16.5% increase. Fim-Cisl has raised the alarm, calling for accelerated industrial plans with new investments and models, particularly to strengthen Italian brands such as Alfa Romeo and Maserati, and hoping that the EU’s new openness to technological neutrality may facilitate recovery.