Post by : Bianca
Haleem
ROME – Italy is taking a definitive stance against pressure from the European Union, asserting that decisions regarding national security and strategic sectors must be retained by individual member states. Prime Minister Giorgia Meloni reinforced this perspective on Wednesday, framing the issue as essential for protecting the nation’s vital interests.
This assertive stance comes in the context of increasing scrutiny from Brussels regarding Italy’s implementation of “golden power” legislation. These regulations empower the government to intervene in essential sectors such as banking, telecommunications, and defense to safeguard strategic assets. Italy is among the EU nations that most actively utilize these powers, raising concerns among European authorities.
Earlier this year, Italy’s involvement halted a significant banking merger. UniCredit, the nation’s second-largest bank, withdrew its €15 billion ($17.5 billion) proposal to purchase Banco BPM, attributing the failed deal to conditions imposed by the government. This incident underscored the tension between national sovereignty and EU-wide financial integration.
With the EU leaders summit approaching, Meloni emphasized in parliament that national security decisions cannot be outsourced or dictated by Brussels. “It is the member states that need to remain the decision-makers in this matter,” she remarked, echoing sentiments recently expressed by Economy Minister Giancarlo Giorgetti.
However, the European Commission has voiced intentions to challenge Italy’s golden power regulations. Reports indicate that Brussels may push Rome to retract specific terms related to the UniCredit-Banco BPM deal and may initiate broader infringement actions to test the legislation's limits.
While the EU aims to facilitate smoother banking consolidations across the continent, the Italian government presents the situation as a wider dialogue on sovereignty, economic strategy, and national defense. Observers note that the upcoming weeks will be pivotal in determining the balance between member state authority and EU regulatory efforts.
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