According to insights, Prime Minister, Giuseppe Conte has the intention to extend Italy’s lockdown beyond 3 of April. According to PM, the lockdown policy is working, avoiding the complete collapse of the health system. Moreover, Conte confirms that the Government is working on another Decree Law to support the Italian economy, expected on April. Most likely, the Decree Law will unblock public investments for some tens of billions of euros - assumed in a range between 50 and 100 bn- together with a simplification of procedures. The new incoming Decree Law, differently from the latest short-term and emergency-focused Decree, will presumably be long-term oriented, aiming to boost post-emergency economic recovery.
Furthermore, the Prime Minister confirms the rumors, circulated across the corridors of the Secret Services and the Minister of Economy and Finance, about the possibility of changing the current legislation on golden power, hence the power that the State has to block foreign investments if they attack strategic industrial or corporate assets of the country. Following the past decision of the CONSOB, which took the unprecedented move of a three months ban on net short positions, Conte’s willingness to use the golden power on strategic assets underlines how serious is the Italian Government and its institutions in protecting the economy against possible financial speculations, after negative results of Italian Stock Exchange. Giorgia Meloni’s Brothers of Italy, a self-branded patriotic party, will specifically work on amendments aiming to tackle the golden share issue. In addition, Matteo Salvini urges the Government to send at least 100 doctors and nurses in hard-hit Bergamo and Brescia (Lombardia), to suspend tomorrow’s tax deadlines and to close every non-strategic business, including public transportations.
The political debate is focused on the Cura Italia Decree Law which will be examined by the Senate Budget Commission, starting at the beginning of next week. Then, between 25th and 26th March, it is expected sessions of the all opinion-giving Commissions. The members of the Senate Budget Committee and the presidents of the political groups -or their delegates- will be admitted to the work of the commission, which would take place presumably in the Senate hall, to be compliant with measures on social distances. The procedure and the modalities of parliamentary activities are a core issue, President of Chamber, Roberto Fico, assures its branch will carry on its duties, even if the distance voting and work is still an issue raised by many MPs.
Following days of delay and mixed messages, the European Central Bank unveiled a new €750 bin bond-buying program which will run through the end of the year, dubbed the Pandemic Emergency Purchase Program (PEPP), aimed at shielding the eurozone economy from the spreading coronavirus. To discuss all measures, proposed by EU Commission and you can read in our EUbox newsletter focused on COVID-19, the EU Parliament - suspended all Strasbourg sessions until July and convened an extraordinary session on 26th March, using distance voting.