Financial TimesFinancial Times

Giorgia Meloni’s first brush with markets undermines Italy’s credibility

By Amy Kazmin

09 Aug 2023 · 4 min read

The Italian government’s blunder over a windfall tax on banks has inflicted serious damage to Prime Minister Giorgia Meloni’s effort to project herself as a fiscally responsible steward of her country’s economy.

A partial rollback late on Tuesday night helped bank shares recover some of their lost ground after a precipitous drop, but the tumultuous episode has damaged the reputation of Meloni’s rightwing coalition.

Sign in to informed

  • Curated articles from premium publishers, ad-free
  • Concise Daily Briefs with quick-read summaries
  • Read, listen, save for later, or enjoy offline
  • Enjoy personalized content