The European Union is preparing to send Italy a formal letter of notice for its increasingly broad use of golden power rules, which may be in breach of EU law. The news, reported by the Financial Times, highlights concerns within the European Commission about Italy’s progressive expansion of sectors subject to government scrutiny—from the original areas of defense, energy, transport, and communications to banking, healthcare, and water management.
The government led by Prime Minister Giorgia Meloni has recently used the mechanism to impose conditions on Unicredit’s offer for Banco Bpm, a move that some analysts see as a political tool to influence operations involving strategic assets. This approach contrasts with Brussels’ preference for greater consolidation in the European banking sector.
With the letter, the Commission will request detailed information and clarification from Italy, formally launching an infringement procedure. European sources, however, describe the dialogue with Rome as “constructive” and say the discussions will continue in the coming weeks.