Domestic Policy
Data Protection Authority: The College of the Data Protection Authority, under investigation by the Rome prosecutor’s office for corruption and embezzlement, has ruled out resignations and reaffirmed its intention to continue its activities, expressing full confidence in the judiciary and asserting its complete lack of involvement in the alleged incidents. The investigation, which also involves President Pasquale Stanzione, has led to searches and seizures of devices and documents, against which legal representatives have announced an appeal to the Review Board. The inquiry may lead to an investigation by the Court of Auditors into potential damage to public finances, particularly in light of internal testimonies and increased representation expenses.
Justice: The National Association of Magistrates is preparing for its assembly day, defining its strategy against the Nordio reform and evaluating whether to maintain protests or tone them down. Minister Nordio has declared himself indifferent to the Association’s decisions, while an appeal to the Administrative Court (Tar) against the early vote could delay the referendum, potentially affecting dialogue on reform amendments. Key objections concern the random selection of members of the Superior Council of the Judiciary and the possibility of appeals to the Court of Cassation, intensifying the clash between supporters and opponents.
Foreign Policy
Greenland: Italy will not deploy troops to Greenland as part of Operation Arctic Endurance, unlike France, Denmark, and Germany, but will participate in NATO-coordinated security operations. Minister Crosetto emphasized a rational and cooperative approach aimed at strengthening Italy’s role in the North without military competition. Germany, France, and Denmark share the goal of extending and integrating the NATO mission. Washington, meanwhile, seeks to influence the region’s geopolitics through threats of tariffs and diplomatic maneuvers amid escalating tensions.
Japan: Giorgia Meloni’s visit to Tokyo, the first by a European leader since Prime Minister Sanae Takaichi took office, marks a significant revitalization of bilateral relations. The two leaders—both the first women to lead their respective countries and currently the only female leaders in the G7—elevated the relationship to a “special strategic partnership,” reaffirming their commitment to international order, peace, and global stability. The joint declaration highlights defense cooperation, as well as concerns over economic coercion and distortions in the global market, with implications extending beyond the Indo-Pacific.
Economy and Finance
Inflation: Over the past five years, inflation has primarily affected the “shopping basket,” which rose by 24% between 2021 and 2025, compared to a 17.1% increase in the general price index, prompting the Antitrust Authority to launch an investigation into large retailers. In 2025, average inflation stands at 1.5%, with significant disparities between energy goods (up 34% over the past five years), food items, and regional variations. For 2026, the inflationary legacy is estimated at zero, but Federconsumatori projects new price increases of over €670 annually per household, exacerbated by higher excise taxes and the cumulative impact of recent price hikes.
Monte dei Paschi: The upcoming weekend will be decisive for Monte dei Paschi di Siena, which must define its industrial future. The board of directors will evaluate two strategic options: pursuing a merger with Mediobanca, supported by CEO Luigi Lovaglio for its efficiency, cost-reduction, and corporate simplification benefits, or reducing its stake in Piazzetta Cuccia to free up resources for a new phase of consolidation and growth. These decisions will also be influenced by Delfin, the 17.48% shareholder, which has confirmed its long-term commitment and support for strengthening the bank.