US EditionECB Asks Italian Government to Reconsider Gold-Reserves Proposal
The ECB warned the amendment risks undermining Bank of Italy's independence and breaching EU treaties despite proponents claiming it clarifies gold reserve ownership.
- The European Central Bank stated that Giorgia Meloni's party should "reconsider" a proposed budget amendment regarding Italy's gold reserves, which it claims "belong to the Italian people".
- The Bank of Italy holds 2,452 tonnes of gold, making it the central bank with the second largest reserve of gold after the United States and Germany.
- Senator Antonio Misiani criticized the proposal, calling it an "ideological flag" meant to distract from Italy's economic issues.
- The ECB emphasized the need for the Bank of Italy's independence, warning that changes could breach EU treaties on public sector financing.
25 Articles
25 Articles
Meloni’s Brothers of Italy picks fight with Bank of Italy over gold reserves
Giorgia Meloni’s Brothers of Italy party is picking a fight with the country’s influential central bank over gold reserves, stepping up a conflict between the government and the country’s technocratic elite. Last month, Lucio Malan, who is chief whip for the Brothers of Italy in the Senate and a close ally of Meloni, introduced an amendment to the 2026 budget that would assert the Italian state’s ownership of close to €290 billion worth of gold …
The governing party of Giorgia Meloni wants to clarify who owns the Italian Central Bank reserves. The ECB fears for a erosion of monetary independence.
The Local - It
The LocalItaly urged to rethink declaring gold ‘property of the people’
The European Central Bank on Wednesday said Giorgia Meloni's party should "reconsider" a proposed addition to the budget declaring the country’s gold reserves the property of the Italian people.
Coverage Details
Bias Distribution
- 46% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
