Domestic Policy
Security: After acknowledging the challenges on the security front, the government is accelerating with a broad package of measures that, according to Noto Sondaggi, has garnered significant public support. The contents were defined during a summit at Palazzo Chigi between Prime Minister Meloni and coalition leaders, alongside relevant ministers. Two measures—a decree law and a draft law—will be submitted to the Council of Ministers with the aim of strengthening efforts against crimes causing major social alarm, particularly those involving minors. However, some sensitive issues remain unresolved, including the repatriation of foreign minors and the deployment of military personnel in cities.
Mattarella: On the occasion of the 430th anniversary of the founding of the Ufficio Pio, President Sergio Mattarella drew attention to “new forms of poverty,” ranging from youth distress to the difficulties faced by migrants, employment, and housing. The Head of State emphasized the importance of concrete, operational responses to conditions of vulnerability. The Compagnia di San Paolo reaffirmed its commitment to building a fairer, more cohesive community capable of addressing today’s social challenges.
Foreign Policy
Trump-Macron: The clash between Donald Trump and the European Union erupted in Davos, turning the World Economic Forum into a battleground for transatlantic tensions, marked by threats of tariffs on European goods and geopolitical pressure over Greenland and the Arctic. Emmanuel Macron’s decision not to meet Trump and his rejection of Trump’s “Board of Peace” for Gaza have deepened the rift, triggering immediate market reactions and growing unease among investors and Western leaders. Paris and Brussels deem the use of tariffs as a political coercion tool unacceptable, while Washington urges calm but maintains its hardline stance. Macron warned that the world is sliding toward a “ruleless competition” and cautioned: “Trump wants a vassal Europe; we prefer respect over bullies.”
Gaza: In Davos, the signing of the Board of Peace Charter—an initiative spearheaded by Donald Trump for the post-ceasefire phase in Gaza—is expected, yet the initiative continues to face strong international skepticism. The composition of the Council, which does not explicitly mention Gaza and includes invitations to authoritarian states, fuels concerns that some perceive the project as a kind of “new UN.” France and other European partners have expressed reservations or outright refusals, while several countries, including Italy, maintain a wait-and-see stance. Meanwhile, tensions on the ground are escalating due to Israel’s demolition of the UNRWA headquarters in East Jerusalem and uncertainties surrounding the launch of the second phase of the peace plan.
Economy and Finance
Consob: The renewal of the presidency of Consob has been postponed by the Council of Ministers, due to unresolved disagreements within the governing coalition. The candidacy of Undersecretary for the Economy Federico Freni, initially considered a foregone conclusion, has encountered reservations from Forza Italia, which stressed the need to ensure a fully independent figure. The decision is now pending further evaluation of the most suitable profile to lead the financial market regulatory authority.
Banks: Banco BPM has begun the process of aligning with the new governance regulations ahead of its April board renewal, convening an extraordinary shareholders’ meeting to amend its bylaws in accordance with the Capitali Law. The changes, which strengthen the role of minority shareholders, could affect board dynamics, particularly in light of Crédit Agricole’s position as the group’s largest shareholder.