Italian Government’s Proposal for Banking Sector: Recovering Billions in Profits

2023-08-08 16:50:04

The Italian government, which brings together the right and the extreme right, wants to recover “several billions” from the record profits made by the banks. With us, the idea – in principle – seduces the PS and Ecolo, while the banks and the right strangle each other. Article reserved for subscribers By Dominique Berns, Maxime Biermé Published on 08/08/2023 at 18:50 Reading time: 2 min

Italian bankers were rushed out of summer lethargy overnight Monday to Tuesday. The government presided over by Giorgia Meloni, the leader of the Brothers of Italy, has unveiled a 40% tax on the “surplus profits” of the banking sector. The announcement, which no one had obviously anticipated, caused a stir on the Milan Stock Exchange, where bank stocks fell, Intesa Sanpaolo and Unicredit, the two largest banks in the country, losing 8.6% and 5% respectively. .9% at closing.

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