Tensions at Piazza Affari, fear of unions. The fault? A mistake by Draghi

Tensions at Piazza Affari, unions worried: Urso intervenes. The fault? A mistake by Draghi

There is a tense atmosphere Business Square. Today, Wednesday 3 June, the Minister of Enterprise, Adolfo Ursoopens the crisis table with the unions who, along the lines of FCA and Stellantis, fear the stampede of many listed companies towards France.

But this fear has more ancient origins. Precisely Bearin fact, in 2021, as president of the Copasirraised the alarm on the risks associated with the passage of Piazza Affari under the umbrella of Euronext, the main pan-European market founded by the Paris, Amsterdam and Brussels stock exchanges.

And, as he writes pizzaliks on X (the now old one Twitter), behind the scenes of that operation, which later turned out to be a risky move to say the least, there was a very well-known face and above all one appreciated by most Italians. We are talking about the former Prime Minister Mario Draghi.

But that’s not all. In reality, the root of the problem that ended up on Minister Urso’s desk today arose much earlier, in 2007, when the Italian banks, which owned the Italian Stock Exchange, decided to open up their capital to London Stock Exchange which, five years later, in 2012, gobbled up the entire Made in Italy Stock Exchange. And, in this case too, it was Draghi himself who blessed the operation.

A move, that of the former prime minister, which turned out to be a total misstep given that the Italian Stock Exchange manages the secondary market of Italian public debt through MTS, on which Paris will have an increasingly massive influence.