Italy Upholds National Security Amid EU Pressures

ROME – In a firm stance, Italy is resisting pressure from the European Union, affirming that decisions regarding national security and strategic sectors should rest solely with member states. Prime Minister Giorgia Meloni articulated this position on Wednesday, emphasizing the need to protect vital national interests.

This statement coincides with increasing scrutiny from Brussels on Italy's enactment of “golden power” legislation, which grants the government the authority to intervene in critical areas such as defense, telecommunications, and banking to safeguard strategic assets. Italy is noted as one of the EU nations actively utilizing these powers, raising concerns among European officials.

Earlier this year, an intervention by Italy halted a significant banking merger. UniCredit, the nation’s second-largest bank, retracted its €15 billion ($17.5 billion) bid to purchase Banco BPM, citing constraints imposed by the government as the reason for the collapsed agreement. This incident underscores the friction between national governance and EU financial integration.

As the EU leaders' summit approaches, Meloni reiterated in parliament that matters of national security cannot be dictated or outsourced by Brussels. “It is, and must remain, the member states who are the decision-makers in this process,” she stated, echoing sentiments voiced by Economy Minister Giancarlo Giorgetti recently.

Nonetheless, the European Commission has indicated it may challenge Italy’s golden power regulations. Reports suggest that Brussels may instruct Rome to rescind certain conditions applied to the UniCredit-Banco BPM transaction and potentially initiate broader infringement procedures to test the boundaries of this legislation.

While the EU aims for smoother banking mergers across the continent, Italy is framing the discussion as part of a larger conversation regarding sovereignty, economic strategy, and national defense. Analysts believe the weeks ahead will be pivotal in determining the equilibrium between national control and EU regulatory aspirations.