Domestic Policy
Ukraine Decree: The Meloni government has placed its confidence in the Arms Decree concerning support for Ukraine, with a vote expected to pass in the Chamber of Deputies but politically sensitive. Defence Minister Crosetto justified the move as necessary for clarity, while opposition parties interpret it as a strategy to manage divisions within the League. Tensions are heightened by Roberto Vannacci’s new party, Futuro Nazionale, which is pressuring League MPs critical of aid to Kyiv. Some parliamentarians remain undecided between voting confidence or leaving the chamber, fearing political and communicative contradictions. The centre-right downplays the issue, but opposition parties describe a struggling majority using confidence votes to shield itself.
Commemorations: Yesterday marked commemorations for victims of the Foibe massacres and the Istrian-Dalmatian exodus. The central event was a ceremony at Montecitorio attended by President Sergio Mattarella. Prime Minister Giorgia Meloni described the Foibe as “a painful chapter in our history,” stressing that “Remembrance is not resentment, but justice.” The Presidents of the Chamber and Senate underscored the importance of memory in combating discrimination and intolerance.
Foreign Policy
Migrants: The European Parliament approved, by a large majority, two amendments to the asylum procedures regulation to accelerate processing. The new rules expand the list of “safe countries” and allow faster procedures, including managing applications in hubs located in third countries, modelled on Albania. Member states may also designate additional safe countries nationally, while the Commission will continuously monitor the situation. Italian centre-right parties claim the outcome as a political victory, with Interior Minister Matteo Piantedosi calling it a “great success” for the Meloni government.
EU: EU leaders will meet at Alden Biesen Castle to discuss European competitiveness amid cautious scepticism following years of announcements with few concrete actions. Ahead of the official summit, Giorgia Meloni, Friedrich Merz, and Belgian Prime Minister De Wever convened an informal meeting to define a common agenda on the single market, simplification, and energy prices. The aim is to arrive at the March European Council with operational measures, clear timelines, and tools such as an “emergency brake” on regulatory burdens and a new legal framework for innovative enterprises. However, political divisions remain, particularly regarding France’s proposal for eurobonds and “European preference” in public procurement.
Economy and Finance
Mps: Monte dei Paschi closed 2025 with record net profits of €2.75 billion and decided to distribute all profits to shareholders, though the future of CEO Lovaglio remains uncertain ahead of the industrial plan on 27 February. The central issue is integration with Mediobanca, including potential synergies worth €700 million, merger scenarios, the question of Generali’s 13.1% stake, and delisting fears driving stock movements. Meanwhile, Mps reports rising revenues, strong commission growth, and improved operational results both year-on-year and in the last quarter.
Monetary Sovereignty: The European Parliament has given strong political backing to the digital euro project, approving by a large majority two amendments supporting its use both online and offline, in line with the ECB and Commission’s approach. The vote rejects the more restrictive stance proposed by rapporteur Ferdinando Navarrete, which limited the instrument to offline use. According to rapporteur Pasquale Tridico, the vote accelerates the pilot project and could lead to the digital euro entering circulation before 2029.