Good evening everybody from rainy Milan.
We are living strange days here in Italy: for the first time the majority organized a movement in the streets against the opposition.
Yes, you are hearing me loud and clear: the so called “movement of the sardines” is organizing rallies in every town where Mr. Salvini, leader of the opposition, goes to hold a public meeting.
As a response the movement of the Kittens was created online (well, Italians never lose their sense of humor), and it seems the Kittens are stronger than the sardines because, according to a Survey by SWG, we are leading the polls in Emilia Romagna by 8% over the Left.
Meanwhile in the Parliament things are going slow, showing the fact that this majority is very heterogenous.
The first part of the budget law, the Tax Decree, is still pending in the Finance Committee and we should start voting the amendments this week.
Overall the Tax Decree will create a lot more of bureaucracy and micro taxes but, notwithstanding the fact that as League we are in the opposition, we’ll probably get some results concerning the real economy.
Talking about real economy, in the weekend edition of the financial newspaper MF an interesting article by Francesco Bertolino analyzes the report “State of European Tech 2019”, elaborated by Atomico, Orrick and Slush; according to the research Milan attracted 282 of the 540 million dollars invested this year by VC Funds in Italian Tech Companies, it’s within the first ten European Tech Hubs.
Milan has what it needs to become in four to five years the European Hub for Fintech and Insuretech.
This results will be possible thanks also to the creation of a Regulatory Sandbox for Fintech, set up by the Growth Decree thanks to a League’s amendment. We are now waiting for the issue of the regulation from the Fintech department within the Ministry of Economy and Finance and the Sandbox will be finally active.
Have a nice evening and see you next week always on GiulioCentemero.com.