Domestic Policy
Atreju: Gianfranco Fini, returning to the Atreju festival after 17 years, underscores the importance of defending Ukraine and admits the mistake of dissolving Alleanza Nazionale, acknowledging Meloni’s merit in rebuilding that political community. Francesco Rutelli, also a guest at the event, calls for bipartisan dialogue amid major geopolitical shifts, stressing the need to share common goals on critical issues such as Europe, Ukraine, and the Middle East. Addressing Gianfranco Fini, he recalls the historic 1993 challenge for the Campidoglio.
Electoral Law: The new electoral system, proposed by the centre-right, will maintain the political practice of appointing the prime minister based on the leader of the most-voted party, although a reform introducing direct designation of the prime ministerial candidate is under consideration—potentially favouring de facto premiership and influencing internal political dynamics. The law provides for proportional representation with a 3% electoral threshold and a majority bonus up to 55%. The Democratic Party opposes the proposal, calling it ridiculous to label as “proportional” a law that includes the bonus envisaged by the right.
Foreign Policy
Migrants: The European Council has reached a political agreement on migrant management, introducing measures to accelerate returns, define the concept of “safe third countries,” and establish hubs outside the European Union. “The change the Italian government hoped for has arrived,” says Interior Minister Piantedosi. “We have secured the adoption of a European list of safe countries of origin, and member states can now use faster border procedures, such as those provided for in the agreement between Italy and Albania.” The inclusion of Egypt and Tunisia among the currently seven safe countries is expected to reduce migrant arrivals in Italy.
European Affairs: In an interview published in La Stampa, Minister for European Affairs Tommaso Foti realistically assesses diplomatic efforts on Ukraine, noting that “so far, major European powers have failed to influence peace negotiations.” Regarding the use of frozen Russian assets, he reaffirms Italy’s intention to respect international law and states that “Europe cannot do such a thing.” Prime Minister Giorgia Meloni will meet Ukrainian President Volodymyr Zelensky today at 3 p.m. at Palazzo Chigi. Yesterday, she participated in a video conference with Zelensky and several European leaders, during which—according to Palazzo Chigi—she reiterated the necessity of maintaining a unified position among European countries and the United States to foster a just and stable peace in Ukraine.
Economy and Finance
Gold Reserves: The European Central Bank has once again commented on the issue of the Bank of Italy’s gold reserves following an amendment by Fratelli d’Italia to the budget bill. While acknowledging modifications introduced in the updated version of the provision, the ECB states that “it is still unclear” what the concrete objective of the revised provision is. Consequently, in the absence of clarifications regarding its purpose, the institution urges Italian authorities to reconsider the proposal to ensure the Bank of Italy’s independence in carrying out its functions under the European System of Central Banks. Economy Minister Giancarlo Giorgetti will write directly to President Lagarde “to provide the requested clarifications.”
China: Chinese exports to the United States continue to decline, but China has successfully diversified into alternative markets, including Europe, Africa, and Southeast Asia. In November, exports grew by 5.9% year-on-year, far outpacing imports (+1.9%), and the annual trade surplus exceeded $1 trillion. Exports to the EU rose by 14.8%, with a surplus of $112 billion in November—the highest ever recorded. At the G7 Finance meeting, concerns were raised over China’s near-exclusive control of rare earth elements.