Italy's Stance on National Security and EU Tensions

Italy's Prime Minister has reiterated that member states should retain authority over national security issues, emphasizing this stance as the country faces scrutiny from the European Union. Italy has heavily relied on 'golden power' legislation to safeguard strategic sectors, drawing criticism from Brussels.

The EU has expressed concerns over Italy's actions, which are perceived as obstructing bank consolidation. This month, the EU indicated plans to challenge Italy's policies, creating friction as the European Commission aims to promote greater financial integration across the bloc.

Notably, UniCredit's failed merger with Banco BPM highlights the tensions. The Italian government's intervention in the banking sector led to the withdrawal of a significant transaction, prompting an EU directive for Italy to reconsider its terms and adherence to golden power legislation.