Prioritizing Italy Inc is Giorgia Meloni’s plan as new prime minister

Giorgia Meloni plans to uphold Italy’s pro-Ukraine and pro-Nato stance, but her government is set to shift internal policy to provide a greater shield for the country’s companies and industry.

The leader of Brothers of Italy formally takes over from Mario Draghi as head of government Sunday. The two have already exchanged the little bell used to open cabinet meetings during the so-called “bell ceremony.”

Meloni, 45, is Italy’s first female leader, yet her government will have men in 18 of 24 cabinet positions. She’ll also rename some of the ministries in a way that points to a domestic policy focus.

That’s in line with Meloni’s Italy First political ideals based on sovereignty and a strong sense of nationalism, which also include potential steps to make Italy matter more within the European Union.

For example, Italy’s agriculture minister will take on the additional label of “food sovereignty,” while the former post of economic development minister will be rebranded as “companies and Made in Italy.” Giancarlo Giorgetti, who held the post in Draghi’s government, was named finance minister.

If needed, the new government will use its ability to block foreign acquisition of Italian companies, known as “golden power,” Guido Crosetto, named as defense minister, said in an interview with Repubblica on Sunday.

Francesco Galietti, analyst at Policy Sonar, said the exercise of golden power “has become a very accurate proxy of Italy’s foreign policy stance” across successive governments. Under Draghi, “countless Chinese attempts to snap up Italian assets were thwarted,” he said.

Meloni’s government, estimated to be the most right wing in Italy since WW2, is also set to change tack on civil rights, and its newly-named family minister has often shared anti-abortion views in the past.

—Bloomberg