Domestic Policy
Quirinale: At the Quirinale, Sergio Mattarella conferred honours for merit of the Republic upon 31 citizens distinguished for heroism and civic commitment, emphasising the need to counter selfishness and isolationist trends in a time marked by conflict. “Two opposing ways of thinking are being contrasted: one concerned solely with one’s own interests, imposing itself upon others, and the other instead sharing difficulties and opportunities in order to achieve success together.” Without explicitly naming international leaders, the Head of State expressed concern over global tensions, reaffirming the value of multilateralism and solidarity.
Anti-Semitism Decree-Law: In the Senate, the law against anti-Semitism is moving towards approval, but the Democratic Party (Pd) remains divided over the IHRA definition, which is contested by part of the opposition despite already being adopted at European level. The majority, supported by Azione, Italia Viva and some reformist members of the Pd, defends a text that introduces no sanctions but promotes prevention and awareness initiatives. Against this backdrop is the rise in recorded incidents in recent years and the call for the broadest possible convergence, also voiced by Senator for Life Liliana Segre.
Foreign Policy
Middle East Crisis: On the fifth day of war between Iran, Israel and the United States, the conflict is expanding from the Mediterranean to the Persian Gulf, directly involving Arab monarchies and Europe in a complex web of attacks and countermeasures. Tehran, struck at its leadership and under military pressure, threatens to regard any intervention as hostile, while Israel intensifies raids on strategic targets and opens a front in Lebanon against Hezbollah. Missiles and drones have hit various Gulf states and Western bases, causing casualties and damage to infrastructure. Meanwhile in Iran, Mojtaba Khamenei, son of the late Ayatollah Ali Khamenei, has been chosen as the new Supreme Leader.
Epstein Case: Video recordings of the closed-door hearings of Hillary and Bill Clinton on the Jeffrey Epstein case have reignited political debate: the former Secretary of State had a tense moment with Representative Lauren Boebert, while the former President recounted a past conversation with Donald Trump regarding his relationship with the financier. The statements have fuelled fresh controversy.
Economy and Finance
Markets: A negative day for financial markets, with the FTSE MIB down by around 4% and European stock exchanges under pressure as the Middle East escalation fuels uncertainty. Oil and natural gas recorded sharp gains, also due to tensions in the Strait of Hormuz, amid fears of new disruptions to energy supplies. The performance of safe-haven assets was more mixed: the dollar strengthened, the German Bund held firm, while gold retreated and US Treasuries were affected by inflation expectations.
Banking System: A day of tension at the top of MPS, where the nominations committee is considering the reappointment of CEO Luigi Lovaglio amid concerns linked to a possible referral for prosecution, while preparing the board list with possible alternatives such as Fabrizio Palermo and Carlo Vivaldi. Meanwhile, the board of Banco BPM unanimously approved the outgoing board list, confirming Giuseppe Castagna and Massimo Tononi and introducing some new members to strengthen governance. These moves reflect a strategic focus on stability and managerial continuity, in a regulatory context more open to minority participation. Both institutions are navigating governance requirements, shareholder expectations and compliance with new corporate rules.