Italy is privatizing part of its postal service as part of its efforts to tackle public debt. Prime Minister Giorgia Meloni’s far-right government aims to raise 20 billion euros by 2026 through the sale of stakes in Post-Italiane (a government-owned institution that she once called a “crown jewel”) and other entities. The aims. But analysts suggest the deal will do little to reduce the country’s debt mountain.
“Our approach will be light years away from the past, when privatization rhymed with gifts to lucky entrepreneurs… We can sell some of it,” Meloni said last week.
The Italian government is looking to sell stakes in railway company Ferrovi dello Stato, energy giant Eni, as well as Post Italiane, which makes large profits from insurance and banking businesses.
The plan has drawn criticism from opposition parties, with Democratic leader Andrea Orlando accusing the government of “selling out the homeland”. The statement also marks a significant departure from the Prime Minister’s previous position on the issue.
“No to privatizing Post-Italian. This is a treasure that must remain in the hands of Italians,” Meloni said in a 2018 Facebook post.
However, a partial privatization campaign will begin in November 2023, with the government acquiring a quarter of the stake in the bailed-out financier, the world’s oldest bank Monte dei Paschi di Siena, for 920 million euros. chose to sell. Another privatization demanded by Brussels, the sale of ITA Airlines’ stake to German airline Lufthansa, is being investigated by the European Commission for potentially undermining competition.
(Information provided by agency)
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