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PM Meloni-Caution Needed On Relaxing State Aid Rules

ITALY

Reuters carrying comments from Italian Prime Minister Giorgia Meloni, stating that "caution is needed on relaxing European rules on state aid." Comes after a meeting with European Council President Charles Michel. There are concerns among southern EU memebrs that the relaxation of state aid - intended to allow EU countries to compete with those from the US following the passage of the Inflation Reduction Act - could see rich northern nations pour money into their green industries, crowding out southern producers.

  • Meloni also states that the EU "needs courage to realise the European Sovereignty Fund." The proposed sovereign investment fund would need unanimous support from all EU member states, and as such Meloni acknowledged the difficulty of bringing the fund to life.

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