Domestic Policy
Regional Elections: In the regional elections, the centre-left won in Campania and Puglia, with Five Star Movement candidate Roberto Fico and Antonio Decaro (Democratic Party), while Veneto remained under centre-right control with Alberto Stefani (Lega). However, voter turnout plummeted: only 43.64% of eligible voters cast their ballots, compared to 57.60% in the previous round. In Naples, in particular, just 39.6% of eligible voters participated.
Justice: In an interview published in Il Giornale, Justice Minister Carlo Nordio clarified his remarks made on 21 November at the International Conference against femicide. Nordio reiterated that “the dominance of men over women has been embedded in the DNA for millennia of domination” and can only be overcome through “a cultural regeneration (…) When I presented this idea, the European Commissioner for Gender Equality, Hadja Lahbib, warmly congratulated me.” According to Nordio, patriarchy still exists in the West, albeit not formally, and gender-based violence highlights the need for specialised personnel to listen to victims. In his view, “the laws already exist,” but what is needed is education in respect.
Foreign Policy
Ukraine: Negotiations on the new peace plan for Ukraine are progressing: Trump is considering postponing the deadline for the peace plan, and Washington and Kyiv have drafted a revised 19-point proposal, considered closer to Ukrainian interests. Moscow is awaiting a direct meeting, and Putin views the plan as a possible basis for agreement, while Zelensky accuses the Kremlin of seeking to legitimise territorial conquests. At the EU-African Union summit in Luanda, Angola, European Commission President Ursula von der Leyen reaffirmed the EU’s support for Kyiv. Germany, the United Kingdom, and Estonia are insisting on a just peace and continued pressure on Moscow.
Taiwan: Tensions between China and Japan are rising following Beijing’s pressure on Taiwan and the cooling of relations between the two countries at the G20 in South Africa. Tokyo has written to the UN to reject China’s request for Prime Minister Takaichi to retract her statement that an attack on Taiwan would threaten Japan’s survival. Beijing accuses Tokyo of crossing a “red line.” Despite the lack of direct dialogue, Takaichi reaffirms her desire for stable relations. China has introduced restrictions, while Japan defends its national security stance.
Economy and Finance
ECB: The ECB warns that while stablecoins currently pose a limited risk to the financial stability of the eurozone, they are growing rapidly and require close monitoring, particularly due to regulatory arbitrage between countries. With a market capitalisation of $280 billion, dominated by Tether and Circle, stablecoins account for 80% of cryptocurrency transactions. Their main vulnerability lies in a potential loss of confidence in convertibility, which could trigger redemption runs with ripple effects on markets, Treasury securities, and bank deposits. The ECB also warns of challenges arising from regulatory differences between countries and urges Europe to innovate without losing sight of emerging challenges, such as Artificial Intelligence.
Amazon: The Milan Public Prosecutor’s Office is investigating Amazon’s Italian subsidiary and some of its managers, accused of alleged tax evasion amounting to €1.2 billion. Investigators are now also considering the crime of smuggling goods from China, for which neither VAT nor customs duties would have been paid. Yesterday, the Financial Guard conducted a raid at Amazon’s Milan headquarters and seized over 5,000 items at the logistics centre in Cividate al Piano (Bergamo).