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Students protest 14 billion euros for weapons as classrooms crumble

More than 400,000 students took to the streets, carrying banners demanding "future, not bombs" and questioning why 14 billion euros are being spent on weapons while school ceilings collapse. The Court of Auditors appeared to agree, warning that the state is prioritizing armaments over the education sector. Prime Minister Giorgia Meloni was less sympathetic, focusing her response on instances of violence during the marches and calling on the opposition to condemn them.

The government's fiscal agenda faced a different kind of resistance in the courts, where the Supreme Court halted the pension reforms proposed by the social security agency, INPS. While the Treasury launched a high-yield retail bond and a new tax amnesty program to bolster the state's coffers, Economy Minister Giancarlo Giorgetti warned that ignoring the energy shock could make debt sustainability a distant memory.

Industrial friction showed signs of easing in Taranto as former ILVA steelworkers lifted their road blockades, with their strike scheduled to end by Friday. Meanwhile, the Pope contacted the Kremlin from his hospital bed to request a humanitarian truce for the trapped residents of Oleshky, as President Zelensky warned that 20 million refugees could head west if Ukraine falls.

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Nationwide Student Protests and Government Response

Over 400,000 students across Italy have protested against the government's education funding and military spending, with banners declaring 'We want future, not bombs'. Prime Minister Giorgia Meloni commented on the violence during these demonstrations, urging the opposition to condemn it. The Court of Auditors also weighed in, stating that 14 billion euros were allocated for weapons instead of education and called for more government support for the education sector. Students in Rome…

Supreme Court Halts Pension Reform

The Supreme Court has halted the National Institute for Social Security (INPS) pension reforms, a decision that is expected to bring significant changes to the pension system.

Economic Warnings and New Financial Instruments

Minister of Economy and Finance Giancarlo Giorgetti has cautioned against overlooking the energy shock and emphasized the need for fiscal policy to rebuild margins to safeguard debt sustainability. In financial markets, the Italian Treasury has launched a new 'Btp Valore' bond with a dual issuance, offering a maxi-coupon of 22.2%. Additionally, the 2026 'Rotamazione Cartelle' tax amnesty program has commenced, providing details on eligible debts and participation.

Pope Leo XIV Recovers and Calls for Humanitarian Truce

Pope Leo XIV continues to show steady improvement in his recovery following lung cancer surgery, and he has celebrated Mass in the hospital. He also engaged in a phone call with Russian President Vladimir Putin to express deep concern regarding the severe humanitarian situation in the occupied Ukrainian city of Oleshky, requesting permission for food and medicine deliveries and the safe evacuation of civilians.

European Disagreement on Energy Crisis; Italy Seeks Leniency

European nations remain divided on the best approach to the energy crisis, with Italy leading a group advocating for less stringent regulations on the energy transition. Italy has managed to secure some concessions at the European Council regarding this issue.

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