Overview

• Speaking in Luxembourg, Albuquerque said the Commission is ready to use available tools against decisions that impede a single market for financial services.
• She declined to confirm an infringement procedure against Italy, noting that launching such actions is the Commission’s responsibility when warranted.
• Italy’s economy minister Giancarlo Giorgetti said the government is applying existing law and asserted that economic, financial and national security are national competencies.
• The dispute follows Italy’s activation of special powers on an offer above €10 billion tied to UniCredit’s bid for Banco BPM, which reporting says led UniCredit to withdraw.
• Albuquerque framed the problem as wider than Italy, citing fragmentation across multiple EU countries that hampers cross‑border services and bank mergers.