Domestic Policy
Government: The first Council of Ministers following a turbulent political week took place with low attendance but without tensions. President Meloni, accompanied by Vice President Tajani, chaired a meeting dedicated to technical matters: ratification of the defence agreement with Kuwait, postponement of the “Amazon tax” on parcels to 1 July, new tax credits for businesses, and revision of the tax regime on dividends and capital gains. Despite significant absences and a semi-festive atmosphere, the government aims to turn the page and relaunch its reform agenda.
Electricity Bills Decree: The Chamber’s Committee on Productive Activities concluded its examination of amendments to the Electricity Bills Decree, mandating the rapporteurs to report to the plenary. Among the approved changes is a crackdown on telemarketing: AGCOM may order telecom operators to immediately suspend lines involved in abuse reports. An extension of the deadline for the closure of coal-fired power plants to 2038 was also approved.
Foreign Policy
Iran: US President Donald Trump announced a temporary 10-day halt to raids on Tehran’s energy facilities at the request of the Iranian government. Meanwhile, German Foreign Minister Johann Wadephul confirmed preparations for direct talks between Washington and Tehran, expected to take place in Pakistan. Iran’s Revolutionary Guards reiterated that the Strait of Hormuz remains closed and that all transits will be subject to strict measures. Chinese and South Korean vessels have faced restrictions, while Spanish ships have been granted passage.
Immigration: The Constitutional Court, in ruling no. 40, declared inadmissible a question raised by the Court of Cassation regarding detention in repatriation centres for asylum seekers, but urged the legislature to reform the relevant legislation to align it with the Constitution and EU law. The Court acknowledges the legitimacy of the objective to prevent abuse of asylum applications aimed at obstructing expulsion, particularly in cases involving serious crimes, but stresses compliance with Article 13 of the Constitution and guarantees on personal liberty, calling for more coherent and rights-based regulations.
Economy and Finance
G7 Foreign Ministers: At the G7 Foreign Ministers’ meeting, the economic impact of the war in Iran was discussed, with the aim of mitigating shocks to energy, trade, and supply chains. With the intervention of EU Commissioner for Economy Valdis Dombrovskis, who highlighted “risks of stagflation” in the EU, the Eurogroup raised alarms over slowing growth and rising inflation, exacerbated by oil prices exceeding $100 and tensions in the Strait of Hormuz. The war is considered a serious threat to global energy security. EU member states are adopting varied measures to counter high energy costs, while discussions continue on the energy transition and reducing dependence on fossil fuels.
Monte dei Paschi di Siena: Consob clarified that all three lists proposed for the new Board of Directors of MPS are legitimate and eligible for voting, following a complaint challenging the list supported by PLT Holding. Ahead of the shareholders’ meeting on 15 April, proxy advisors are evaluating which list to recommend. The contest for the role of CEO is between outgoing candidate Luigi Lovaglio, backed by PLT, and Fabrizio Palermo, close to the Caltagirone group; the Assogestioni list is also in the running. Decisive will be the stance of major international funds and the orientation of key shareholders, including Delfin, Caltagirone, Banco BPM, and BlackRock.