Giorgia Meloni: Government's Role in Monte Paschi di Siena Has Ended

The Italian political-economic scene is focused on the definitive end of state intervention in the banking sector. Prime Minister Giorgia Meloni officially announced that the government's role in the structures of Monte Paschi di Siena (MPS) has expired. The Prime Minister emphasized that the institution is now a solid entity, and the state does not intend to exert further influence on its management or corporate governance. This information became the main factor behind declines on the Milan trading floor, where the FTSE MIB index recorded losses, primarily burdened by the devaluation of bank shares. Investors reacted skeptically, fearing for the future of mergers and acquisitions in the sector following the withdrawal of the public safety net. Simultaneously, Prime Minister Meloni spoke about the development of artificial intelligence, participating in an event dedicated to this technology in Rome. The head of government pointed to the necessity of creating an "Italian path" in digitalization, which would combine innovation with the protection of human capital. Meloni warned that a lack of proper oversight over algorithms could lead to the creation of a multitude of "unnecessary workers." Representatives of Confindustria and the Ministry of Labor spoke in a similar tone, calling for a common European strategy that would maintain high employment levels despite advancing automation. In 2017, the Italian government conducted a so-called preventive recapitalization of MPS bank, taking control of the institution to avoid a systemic financial crisis in the eurozone. In the realm of international politics, Prime Minister Meloni criticized the customs policy of the Donald Trump administration, calling it a mistake that could hit global trade. Despite these concerns, local producers, including from the Udine region, declare resilience to potential shocks related to new tariffs. Domestically, rising fuel prices are causing concern, with diesel on highways reaching 2.081 euros per liter. The situation is complicated by the latest data on trade with countries outside the European Union, indicating a decline in both imports and exports, suggesting an overall cooling of the economic climate. „Il ruolo del governo in Mps è finito, i governi non dovrebbero occuparsi di banche” — Giorgia Meloni In relations with Brussels, the Meloni government maintains its opposition to stringent environmental regulations, which is reflected in the debate over the ETS system. However, this criticism meets resistance from part of the scientific community. Over 150 researchers, including Nobel laureate Giorgio Parisi, issued an open letter against attempts to weaken European climate policy, arguing that retreating from the green transition would bring catastrophic consequences in the longer term.