EditorialsThe MPS shareholders’ meeting rejects the Lovaglio plan. The next phase and the future balance of powerOver 90 per cent of votes in Siena were cast against each of the bids for Banco BPM and Banca Generali; 63.65 per cent of votes cast were against the merger with Mediobanca; and there was another ‘no’ vote on the capital reduction. Intesa’s victory sets the stage for GeneralibyRedazione29 OCT 26
Dpb in a miniskirtThe budget is too tight and Tajani isn’t happy with itHe was against the bank tax and in favour of cutting personal income tax. The Budget Bill brings two disappointments for Forza ItaliabyLuciano Capone16 OCT 26
editorialsThe Siena grand coalition for MPSThe right and the left are uniting in the fight to defend Monte dei Paschi’s senioritybyRedazione4 SEP 26
balance the booksExtra taxes and profits: the targets of European populismFrom the UK to Italy, it has become fashionable to target banks in the name of wealth redistribution. But the real cost of these policies falls on families and foundationsbyMariarosaria Marchesano3 SEP 26
The clashTajani against Salvini: “Taxes on windfall profits smack of the USSR. The government must stay out of the banking game”“The moment I hear the word ‘taxes’, I break out in hives,” says the Foreign Secretary. Senator Borghi of the Carroccio responds to the Foreign Secretary: “If Tajani has other priorities, let him say so.” Costa (FI): “Demagogic naivety from the Lega”byNicolò Zambelli26 AUG 26
the editor’s editorialBanks in the game and politics in the standsThe paradox of the banking game of Risk: the more politicians shape the landscape, the more they must rely on the market. MPS’s move regarding BPM and Banca Generali, the divisions at Chigi, the setbacks regarding the third political bloc, and the games still to be playedbyClaudio Cerasa21 AUG 26
incorrect topicsItaly’s absurd obsession with banks’ windfall profitsAmid the debate on the Budget Bill, discussion has returned to the infamous tax, which, however, raises problems from various perspectives: it is not only unjustified, it is a mistake in economic policybyLorenzo Bini Smaghi15 AUG 26
The announcementSalvini wants 5 per cent from the ten largest banks. Like SánchezThe Transport Minister has announced a levy on the profits of the major banks, modelled on the Spanish system. However, the Italian Banking Association (ABI) is adopting a wait-and-see approach for the time being, whilst reiterating that the agreement signed last year with the government is still considered validbyMariarosaria Marchesano12 AUG 26
The real challengeRevolut is a Russian-Ukrainian portmanteau and a symbol of the rising fintech sectorThe growth of the business partnership between Storonsky and Yatsenko coincided with Russia’s increasingly aggressive stance, culminating in the invasion of Ukraine. After eleven years, the technology platform was granted a banking licence in France, marking a turning point in the European banking systembyMariarosaria Marchesano11 AUG 26
editorialMessina reignites the banking crisisThe CEO of Intesa SanPaolo presents the figures on three key points of the BPM plan and takes a swipe at Lovaglio. Possible short-term scenariosbyRedazione30 JUL 26