Domestic Policy
Referendum: Turnout was very high at the referendum on justice: by 23:00 on the first day, it reached 46%, six points higher than the 2020 consultation. Participation was driven mainly by regions in the North, with Emilia-Romagna leading, while the South, particularly Sicily and Calabria, lagged behind, highlighting a strong geographical divide. Meanwhile, controversies and allegations of irregularities at polling stations have erupted between parties and committees supporting the Yes and No campaigns, with mutual accusations of illegal propaganda, obstruction of list representatives, and local political tensions.
Lega: Thousands of people attended Umberto Bossi’s funeral in Pontida, in an atmosphere charged with symbols and nostalgia marking the end of an era for the Lega. The ceremony was attended by leaders of the centre-right, but there were also challenges to Matteo Salvini, accused by some militants of betraying the movement’s original spirit. Amid historical slogans, flags, and memories from supporters, the day represented a moment of party unity, yet also exposed internal divisions, while Bossi was remembered as the founder and charismatic leader of the Lega movement.
Foreign Policy
Iran: Donald Trump has given Iran 48 hours to fully reopen the Strait of Hormuz to commercial traffic, threatening otherwise to attack Iranian power plants. Tehran has responded by threatening retaliatory strikes against energy and strategic infrastructure of the United States and its allies in the region, and by threatening to completely close the strait. Maritime traffic is already severely reduced. Meanwhile, military attacks and tensions continue, but diplomatic openings are emerging through international mediation and negotiation attempts, despite the conditions set by both sides remaining largely unacceptable.
France: Emmanuel Grégoire, heir to the socialist era that transformed Paris into a cycling capital, won the runoff with over 51% against Rachida Dati. His victory strengthens the socialist front ahead of 2027, following his refusal to reach agreements with La France Insoumise. Major cities such as Paris, Marseille, and Lille confirm a moderate left, while the Rassemblement National advances in the south-east. Divisions remain over the possibility of uniting the entire left, while each political bloc claims significant successes.
Economy and Finance
Poste: Poste Italiane has launched a public offer to acquire and exchange shares worth €10.8 billion to acquire Telecom Italia, with the aim of creating a major national group in telecommunications and digital services under public control. The operation aims to integrate logistics, financial services, cloud computing, and telecommunications, developing an Italian platform for artificial intelligence and digital infrastructure. The new entity, with revenues of around €27 billion, aims to become a reference operator in telecommunications, cloud, data, cyber-security, and digital services for businesses and public administration.
Monte dei Paschi di Siena: The board of directors of Monte dei Paschi may revoke the mandates of chief executive officer Luigi Lovaglio following his candidacy on an alternative list for the renewal of the board, a move that would have created significant internal tensions. In the background, manoeuvres linked to Mediobanca and the possible role of Vittorio Grilli are also emerging. The board will assess the timing and modalities of the candidacy and possible breaches of loyalty obligations, fearing destabilising effects on the bank and the market, especially in light of similar precedents in the financial sector.