Today’s News: Two people have died and many others were injured following the derailment of tram number 9 in Milan, on Viale Vittorio Veneto. The tram, which left the tracks, crashed into a shop.
Domestic Politics
Electoral Law: Debate over the electoral reform, known as “Stabilicum,” is heating up between the majority and opposition parties. The latter regard it as a “fraudulent law,” criticizing the allocation of 55% of parliamentary seats to the party securing 40% of the vote. Meanwhile, the centre-right is divided over single-member constituencies and preference voting—strongly supported by Brothers of Italy. The majority aims to ensure political stability, but the Democratic Party and other opposition groups criticize the proposal as unconstitutional and authoritarian. The law could influence the 2027 elections, introducing changes such as a 3% electoral threshold and coalition voting, while discussions continue regarding runoff elections and parliamentary composition.
Justice: Tensions are high over the referendum following an event organized by the Lazio branch of the National Association of Magistrates (ANM) at the Guardia di Finanza’s “Villa Spada” Logistics Centre in Rome, intended to raise funds for the “GiustodireNo” Committee. The event was later cancelled, as regulations prohibit political initiatives from being held at Guardia di Finanza premises. The incident intensifies the ongoing dispute between the government and magistrates, already inflamed by posters supporting the “No” campaign displayed in courthouses. ANM President Cesare Parodi claimed he was unaware of the event. Polls indicate a near-even split between “Yes” and “No,” with undecided voters playing a pivotal role.
Foreign Policy
Iran: U.S. President Donald Trump has announced a final meeting with Iran, following talks in Geneva that failed to ease tensions. The United States has authorized the evacuation of non-essential personnel from its embassy in Jerusalem, anticipating a potential attack on Tehran and retaliatory actions by Iran’s ayatollahs against Israel. China has advised its citizens in Iran to leave immediately. Iran has urged the U.S. to abandon excessive demands. Secretary of State Marco Rubio will visit Israel to discuss Iran, Lebanon, and Trump’s peace plan for Gaza.
Pakistan: Pakistan has launched aerial raids in Afghanistan, striking targets in Kabul and Kandahar, declaring its patience exhausted over provocations by the Taliban regime. Islamabad describes the operations as self-defence in response to repeated terrorist attacks originating from Afghan territory. The strikes hit 22 military targets, inflicting heavy losses on the Taliban. Despite Pakistan’s military superiority, Afghan militias remain adept at guerrilla warfare. Mediation attempts by Russia, China, Turkey, and Saudi Arabia have so far failed.
Economy and Finance
Mercosur: Following ratification by Argentina and Uruguay, and pending approval from Brazil and Paraguay, European Commission President Ursula von der Leyen announced the provisional application of the EU-Mercosur free trade agreement, without waiting for the European Court’s ruling expected in the coming months. This landmark agreement, one of the most significant of the century, eliminates tariffs on 91% of traded goods, primarily benefiting automobiles, industrial, chemical, and pharmaceutical products, with estimated annual savings of around €4 billion. For Europe, exports could increase by 39% by 2040. Confindustria expressed satisfaction with the deal.
Monte dei Paschi: The merger between Monte dei Paschi di Siena and Mediobanca creates Italy’s third-largest banking group. The strategic plan through 2030 forecasts strong profit growth, substantial dividends, €700 million in synergies, and €1 billion in digital investments, alongside international expansion. The new group aims for over 7 million customers and five complementary business areas, maintaining its strategic stake in Generali. However, markets reacted negatively, criticizing the lack of clarity regarding integration and strategy. Prime Minister Giorgia Meloni, in an interview with Bloomberg, declared the state’s role in the Sienese bank concluded.