June 2025 saw Italy advance its geoeconomic assertiveness, industrial repositioning, and diplomatic projection across multiple fronts. A landmark moment came with the official internationalisation of the Mattei Plan, jointly launched by Prime Minister Giorgia Meloni and EU Commission President Ursula von der Leyen at Villa Pamphilj. Closely aligned with this, Foreign Minister Antonio Tajani unveiled Italy’s vision for a Mediterranean–Indo-Pacific corridor, anchored at the port of Trieste and interfacing with Gulf and Indian partners. Italy also signed a 2025–2030 Action Plan with Argentina to secure cooperation on critical raw materials, industrial inputs and value-chain integration. In parallel, Generali ramped up its India operations under new FDI rules, while Leonardo partnered with Nokia to deploy private 5G networks for critical infrastructure, reinforcing European digital sovereignty. Meanwhile, Fincantieri unveiled an ambitious Underwater Technology Hub, targeting subsea drones, cable security, and dual-use seabed systems.
The Council of Ministers approved Baykar’s EUR 40 mln acquisition of Piaggio Aerospace under strict golden-power conditions, anticipating a new drone assembly line in Liguria. Investigations into alleged Chinese surveillance at Ferretti Group and scrutiny over foreign influence at Pirelli triggered renewed debate on ownership transparency and economic security. These developments occurred as Italy prepared for a critical turnover in the leadership of CONSOB, ARERA and AGCOM. The Parliamentary Budget Office (UPB) published its mid-year assessment, warning of mounting macroeconomic risks: GDP growth was revised down to 0.7%, with US–China tariff escalation expected to weigh further on industrial exports. Confindustria echoed concerns over rising energy costs and supply-chain fragmentation.
On the institutional front, General Diodato Abagnara assumed command of the UNIFIL peacekeeping force in Lebanon. Politically, former CISL leader Luigi Sbarra was appointed Undersecretary for the South. In the sporting sphere, Luciano Buonfiglio was elected President of CONI at first ballot.
Diplomatic postings also reflectedrealignment. A reshuffle affected top roles in Brussels, Paris and Tokyo. Rome hosted strategic visits from Brooke Rollins (US Agriculture Secretary) and Javier Milei (President of Argentina), both linked to new commercial frameworks.
Taken together, the events of June illustrate a country actively engineering its strategic depth—projecting influence through high-value partnerships.
On 12 June 2025, the Council of Ministers formalized the appointment of Luigi Sbarra, former secretary-general of the CISL union, as Undersecretary to the Presidency of the Council of Ministers with a specific mandate for Southern Italy. Sbarra had resigned as CISL leader in February 2025, in line with statutory retirement at age 65. His assumption of governmental office was greeted with both support and criticism.
The Prime Minister, Giorgia Meloni, underscored the choice as part of a broader southern development agenda, signaling continuity in efforts to bolster regional employment and economic activity. Meanwhile, political opponents raised concerns over perceived closeness between Sbarra and the Government during his union leadership. His appointment reflects the administration’s intent to embed regional development policy within executive leadership. Yet, the mixed reception underscores the delicate balance between technocratic qualifications and political proximity.
Luciano Buonfiglio, president of the Italian Canoe Federation, was elected President of CONI (Italian National Olympic Committee) on 26 June 2025 with 55.4% of the vote in the first round, beating outgoing Vice President Silvia Salis. Buonfiglio’s campaign focused on transparency, grassroots sports, and restoring CONI’s autonomy after years of institutional overlap with the Department of Sport under the Prime Minister’s Office. He pledged to decentralise decision-making, expand funding to federations with fewer resources, and strengthen Italy’s Olympic bid process.
A sports executive with decades of experience, Buonfiglio has served as head of the Italian Paralympic Committee’s technical group and represented Italy in various European federations. Minister of Sport Andrea Abodi welcomed the result, while Prime Minister Giorgia Meloni congratulated Buonfiglio in a message referencing the need for “a sport system that is united, meritocratic, and transparent.”
With key appointments due at CONSOB, ARERA, and AGCOM, political observers warn that party influence could compromise institutional impartiality in strategic sectors such as finance, energy, and telecommunications. The mandate of ARERA’s board expires in August, while new leadership at AGCOM is also expected in the coming months. Within CONSOB Vice President Anna Genovese is considered likely to succeed outgoing President Paolo Savona. While respected in financial circles, her appointment could rekindle debates on the balance between expertise and perceived political alignment.
The independence of regulatory agencies has long been a cornerstone of Italy’s liberal democratic model, ensuring rule-based governance and market transparency. However, recent years have seen a blurring of boundaries between Government and regulators, particularly in areas under “golden power” review or national security relevance.
On 6 June 2025, President Sergio Mattarella paid his first official audience to Pope Leo XIV at the Vatican’s Sala del Tronetto, continuing a longstanding tradition of cordial engagement between the Italian Republic and the Holy See. Mattarella arrived with his family and a delegation that included Foreign Minister Antonio Tajani and other senior offices. The encounter began with the playing of the national anthem in the Cortile di San Damaso before proceeding to the private library for a closed-door dialogue on international conflicts, particularly in Ukraine and the Middle East, as well as social concerns.
During the encounter, Mattarella brought a floral tribute adorned with the Italian tricolour and conveyed the “affection of Italy” to the Pontiff. He also expressed hope that the Pope’s mission would advance “dialogue, justice, and peace”. The symbolic resonance of this meeting lies in reaffirming the bond between Quirinale and Vatican — a diplomacy rooted in mutual respect and shared societal values.
On 4 June 2025, United Nations Secretary-General António Guterres appointed Major General Diodato Abagnara of Italy as Head of Mission and Force Commander of the United Nations Interim Force in Lebanon (UNIFIL), succeeding Spain’s Lieutenant General Aroldo Lázaro Sáenz. This appointment underscores Italy’s deep-rooted engagement in maintaining stability in the Middle East. General Abagnara brings over 36 years of military experience, including leadership roles within the Italian Army, to his new UNIFIL assignment.
The Italian Government expressed pride and reaffirmed its commitment to regional security. This leadership assignment reflects Italy’s enduring diplomatic and military contribution to UN peacekeeping efforts, reinforcing its status as a reliable actor in multilateral security initiatives.
U.S. Agriculture Secretary Brooke Rollins visited Rome on 2–3 June, meeting her counterpart Francesco Lollobrigida to press for lower tariffs and streamlined EU sanitary rules that, in Rollins’ words, have “unfairly sidelined” American producers. The delegation also engaged FAO Director-General Qu Dongyu and WFP Executive Director Cindy McCain to align UN procurement with U.S. supply-chain objectives, echoing Washington’s push for science-based standards in global food aid.
Lollobrigida acknowledged that the United States remains an “indispensable ally”, noting that premium Italian exports—wine, olive oil, cheese and pasta—represent only a fraction of Rome’s EUR 75 bln agri-food sales and could grow if the EU-U.S. regulatory table announced during the visit delivers convergence. Rollins urged Italy to source more U.S. corn and soy to balance trade flows, while the ministry announced follow-on missions to India, Vietnam and Brazil aimed at diversifying export risk. Observers see the initiative as a test of post-CETA transatlantic alignment.
Amid Meeting in Rome on 3 June, Prime Minister Giorgia Meloni and President Emmanuel Macron tried to reset relations strained by shipbuilding rivalries, Libya policy and differing visions for NATO burden-sharing. In an interview ahead of the summit, former EU Ambassador Ferdinando Nelli Feroci argued that defence-industrial integration and a coordinated stance on Ukraine sanctions offer the quickest wins if politics can outpace corporate parochialism. The leaders tasked Ministers with drafting a road-map by September covering joint export credits, space launch cooperation and a unified position on the EU’s proposed 3.5 %-of-GDP defence-spending target. Success, analysts note, would stabilise the EUR 111 bln annual trade corridor and counter perceptions that Meloni’s Atlanticism is incompatible with Macron’s push for European strategic autonomy.
Italy and Argentina have cemented their strategic cooperation by launching a comprehensive 2025–2030 Action Plan focused on critical raw materials and key economic sectors. The agreement, signed during Argentine President Javier Milei’s visit to Rome, marks a renewed commitment to bilateral collaboration following preliminary discussions held during Prime Minister Giorgia Meloni’s trip to Buenos Aires on 20 November 2024.
This Action Plan outlines a shared roadmap aimed at enhancing industrial cooperation, supply-chain resilience, and resource diversification. Although specific targets remain confidential, the initiative aligns with broader EU objectives to strengthen the domestic sourcing and processing of critical materials, vital for the green and digital transitions. Italy brings its technological and industrial infrastructure to bear, while Argentina contributes through its significant reserve of minerals crucial for batteries, electronics, and renewable energy technologies.
At the “Connected Mediterranean” Summit held in Nice, Foreign Minister Antonio Tajani positioned Italy at the heart of a transformative infrastructure project: the IMEC/Via del Cotone economic and logistics corridor, linking Europe’s shores with the Indo-Pacific through strategic Gulf intermediaries. Tajani emphasized that Italy’s strategic anchor for this corridor will be the port of Trieste, framing it as a cornerstone of Mediterranean–Indo-Pacific connectivity. Earlier plans hinted at a major trilateral meeting in Trieste involving India and Gulf partners to solidify the corridor’s governance and commercial framework.
Beyond port logistics, the initiative signals a broader strategic pivot: aligning Italy with global supply chains while reinforcing vocation in energy, digital infrastructure, and maritime transport. This corridor resonates with other emerging Italy-led regional proposals, such as the Mattei Plan and similar projects aimed at expanding economic integration across Asia and Africa.
June saw a notable reshuffle within Italy’s diplomatic corps, with a wave of new appointments formalized by the Council of Ministers and published in the Gazzetta Ufficiale. Among the key figures are Emanuela D’Alessandro, named Ambassador to the OECD; Mario Vattani, posted to Japan; Federico Azzoni, now Italy’s Permanent Representative to the European Union; and Cristina Peronaci, appointed as Deputy Secretary General of the Ministry of Foreign Affairs and International Cooperation (MAECI).
These shifts follow a structured pattern of generational and strategic renewal under the direction of Foreign Minister Antonio Tajani and the Secretary General of MAECI, Riccardo Guariglia. The appointments notably favour experienced diplomats with prior exposure to multilateral negotiations and geopolitically sensitive missions. The reshuffle also reflects Italy’s evolving foreign-policy priorities, particularly in the Indo-Pacific, EU policymaking, and global economic governance.
On 27 June 2025, Italian Prime Minister Giorgia Meloni and European Commission President Ursula von der Leyen met at Villa Doria Pamphilj in Rome to inaugurate the internationalisation phase of the Mattei Plan, Italy’s flagship strategy for development partnerships in Africa. The meeting brought together institutional leaders, business associations, and financial institutions aimed at aligning European and Italian instruments for investment in African infrastructure, energy, and food security.
The Rome summit also outlined tools for project co-financing, such as the Global Gateway and the upcoming Pan-European Sovereignty Fund. Italy will coordinate with EU institutions to channel private capital and technology transfer into strategic African corridors—from renewable energy clusters to water infrastructure and border security.
In its June 2025 economic update, Confindustria warned that the global economy is entering a phase of deep uncertainty, with rising protectionism, energy shocks, and geopolitical fragmentation posing serious risks to Italy’s export-led recovery. The industrial confederation cited declining order books, costlier credit, and volatile energy prices as key factors eroding business confidence across sectors.
The report highlights that EU exporters, particularly SMEs, are vulnerable to new waves of tariffs and trade barriers. Confindustria expressed particular concern over the escalation of U.S. tariffs and growing friction with China, noting that such developments disproportionately impact Italy’s machinery, automotive, and agri-food exports. The potential spillover into standards, certifications, and supply chain dependencies could further distort competition. Simultaneously, the resurgence of war-related shocks in Eastern Europe and the Middle East continues to fuel commodity price spikes. Italian industrial gas prices remain nearly twice the pre-crisis average, further undermining competitiveness.
Industry Minister Adolfo Urso confirmed that the Government is “active and vigilant” but not yet ready to tighten golden-power conditions imposed on Pirelli’s 37% Chinese shareholder Sinochem. Sinochem’s veto of a U.S. expansion plan has reignited calls to cap its stake below 25% and bar its managers from sensitive board committees, yet Palazzo Chigi fears over-using the tool while it defends a separate golden-power ruling in court against UniCredit.
An ongoing probe will first assess whether Sinochem has breached existing curbs; failure could see rival slates for full board control at the 2026 AGM. Meanwhile, Pirelli’s Q1 net profit jumped 27 % and the firm reaffirmed a 16 % EBIT-margin target, underscoring that governance, not performance, is the flash-point.
The Ahead of an 11 June inauguration, Rome’s LUISS University confirmed the creation of the Geopolitical Risk Observatory (GRO), to be co-directed by former foreign-intelligence chief Giampiero Massolo and Rector Paolo Boccardelli. The centre replaces Alessandro Orsini’s International Security Observatory and will embed risk analytics in the university’s Franco Fontana Strategic-Change Centre. The launch roster features Intesa Sanpaolo’s Stefano Lucchini and Enquirisk founder Carlo Gallo, underscoring GRO’s ambition to offer policy-grade country-risk briefings rather than talk-show polemics.
In June 2025, Italian luxury yacht builder Ferretti S.p.A found itself entangled in an espionage scandal when surveillance devices were discovered in its Milan offices. The company’s first shareholder, Chinese industrial giant Weichai, was in the spotlight after bugs and signal amplifiers were found in the offices of three Chinese executives based in Milan during 2024; these revelations were submitted to authorities via a formal complaint.
Ferretti issued a statement asserting its victim status, denouncing illegal surveillance, and confirming that criminal proceedings had been initiated both in May 2024 and June 2025. The “golden power” framework, which grants the Italian Government oversight over sensitive transactions, could be activated as a safeguard if external influence poses a threat to national interests.
On 6 June 2025, the Italian Government approved the EUR 40 mln acquisition of Piaggio Aerospace by Turkey’s drone manufacturer Baykar, invoking national Golden Power authority to ensure oversight of strategic operations. The deal, expected to close by the end of June, paves the way for Baykar to commence operations at Piaggio facilities as early as 1 July, subject to fulfillment of licensing, contractual, and regulatory conditions.
This acquisition positions Liguria as a potential European production hub for Baykar’s Akinci and TB2 drones, with initial plans confirmed in early July 2025. Though Baykar assumes control, Italy’s Golden Power framework ensures continued regulatory oversight over Piaggio’s strategic operations in defense and aerospace. The move underscores Rome’s intent to modernize its industrial base without compromising national security prerogatives.
Holding its 4 June session at the Brussels hub opened in 2023, Cassa Depositi e Prestiti (CDP) became the first Italian national-promotional bank to meet outside the country. Chairman Giovanni Gorno Tempini and CEO Dario Scannapieco briefed EU Commissioners Jozef Síkela and Maria Luis Albuquerque on how CDP has channelled EUR 1.2 bln of European funds since 2022, mobilising roughly EUR 13 bln of investments and aligning Italy’s Mattei Plan with the EU’s Global Gateway. Directors also endorsed a roadmap to deepen cooperation with peer institutions under the “5 + 1” group and to accelerate capital-markets-union initiatives—signals that CDP is positioning itself as Italy’s gateway to InvestEU, CEF-Blending and EIB security facilities.
Open Fiber’s 3 June board—its first under new chairman Enrico Cucchiani— unanimously rejected a FiberCop offer to take over five delayed grey-area lots under the EUR 3.4 bln Italia 1 Giga programme. The refusal leaves Open Fiber behind schedule on cabling 2.2 mln premises and raises the spectre of Government revocation if the firm cannot present a turnaround plan before the 30 June 2026 EU deadline for completing works financed by Italy’s NRRP. Majority shareholder CDP (60 %) appears more open to compromise than 40 % owner Macquarie, whose reservations centre on valuation and timing; any withdrawal could trigger protracted litigation and jeopardise Digital-Decade targets.
During its “Deepdive – Analyst and Investor Underwater Day” in Milan on 2 June, Fincantieri unveiled a five-year growth plan that elevates the underwater domain to a strategic pillar of the group’s portfolio.
Management projects that the segment’s contribution will jump from 4 % of 2024 turnover to 8 % by 2027, translating into about EUR 820 mln in annual revenue and EBITDA margins approaching 19 %, markedly above legacy shipbuilding averages. A newly created Underwater Technology Hub pools Fincantieri’s submarine lines, WASS acoustic-sensor assets, IDS unmanned platforms and Remazel launch-and-recovery systems, giving the group an integrated “system-of-systems” offer aimed at a EUR 50 bln global market for subsea security and energy infrastructure. A memorandum with Genoa-based Graal Tech will accelerate the fielding of small- and medium-class autonomous vehicles for dual-use missions, from pipeline inspection to anti-submarine warfare.
Assicurazioni Generali continues to strengthen its footprint in India with the announcement of expanded capital commitments and governance reforms for its joint ventures with Future Group. In June 2025, the Italian insurer confirmed its intention to scale up operations in both life and non-life segments, leveraging India’s rapid digitalisation and emerging middle class.
Generali has received final approval from Indian regulators to increase its equity share in the JV to 74%, in line with India’s liberalised FDI rules in insurance. India now represents one of the group’s highest-growth markets, alongside Eastern Europe and Southeast Asia. The expansion also fits within Generali’s broader “Lifetime Partner 2025” strategic plan, which prioritises international diversification, ESG-aligned underwriting, and digital customer experience.
Eni has opened exclusive talks to sell 49.9 % of ENI CCUS Holding to Global Infrastructure Partners, the $100 bln BlackRock fund, in a deal modelled on last year’s Plenitude and Enilive carve-outs. The Ravenna CCS project, HyNet (UK) and L10 (Netherlands) will anchor the vehicle, envisaged as the core of a pan-European sequestration platform capable of 50 Mt CO₂ by 2030. Parallel talks with Ares Alternative Credit over 20 % of Plenitude and the January divestiture of 30 % of Enilive to KKR confirm CEO Claudio Descalzi’s strategy of pairing minority cash injections with operational control.
ENI’s retail-and-renewables arm Plenitude submitted a binding offer on 5 June to acquire 100 % of ACEA Energia, valuing the unit at roughly EUR 600 mln and giving Plenitude immediate access to 1.4 mln Italian customers on top of its existing 8 mln base. Rome-based utility ACEA confirmed it will evaluate the proposal within weeks; if approved, closing is envisaged by mid-2026 and is subject to antitrust and “golden-power” clearance. Reuters subsequently reported that the deal terms include an earn-out of up to EUR 100 mln linked to performance and a 50 % stake in Umbria Energy, implying an enterprise value of EUR 588.5 mln. For ACEA, the sale would free capital to fund the EUR 7.6 bln, 2024-28 regulated-infrastructure plan, while for Plenitude it accelerates the march toward an 11.5 mln-customer target and strengthens the case for an eventual IPO.
Leonardo and Nokia have signed a strategic agreement to jointly develop mission-critical wireless networks tailored for national security and civil infrastructure applications. The partnership, announced in June 2025, will combine Leonardo’s expertise in cyber-resilience and system integration with Nokia’s advanced 4G/5G private wireless technologies. Applications include military bases, airports, ports, rail networks, and public safety communication systems. These are all sectors where cyber-physical integration is essential to prevent disruptions and guarantee continuity of operations.
By integrating AI-enabled orchestration and real-time monitoring, the joint offering aims to meet the highest standards in latency, reliability, and cybersecurity. The solution also supports legacy interoperability and open standards to ease integration with existing command-and-control platforms.
Leonardo’s CEO, Roberto Cingolani, positioned the deal as part of the group’s digital transition strategy, while Nokia highlighted its commitment to building resilient supply chains and “sovereign cloud” architectures in Europe.
In a 3 June interview Alessandro Benetton—chair of Edizione and vice-chair of Mundys—said toll-road arm Abertis will deploy EUR 4 bln by 2029 to upgrade newly acquired concessions in Spain, Chile and Puerto Rico while scouting further assets under a post-2023 governance revamp with partner ACS. The family group also intends to leverage Rome’s Fiumicino hub, ranked top-10 globally for service quality, as a template for airport investments “anywhere, without geographic limits,” with a goal of carbon-neutral operations by 2040. Analysts read the move as a bid to diversify traffic-linked revenues and position Mundys for a reopening aviation cycle, funded by last year’s EUR 1.7 bln capital increase and room in its BBB- credit headroom.
Persistent shareholder and Government friction over CEO Jean-Marc Chery’s restructuring has fuelled speculation that the Franco-Italian chipmaker could ultimately split along national lines, separating Italy’s power-device fabs from France’s digital plants. While investment bank Equita deems the break-up “operationally daunting,” the chatter gained traction after Chery outlined a 5,000-job reduction plan through 2028 and hinted that Italian political resistance might slow execution. Rome, which co-owns 13.75 % via MEF, is already probing insider-trading allegations and wants a revamped industrial strategy safeguarding Agrate and Catania plants. Markets remain unconvinced: although restructuring hopes propelled the share up 11 % on 4 June, valuation still lags peers at 5.3 × 2025E EV/EBITDA, suggesting investors doubt the feasibility—or wisdom—of a two-company solution.
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