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Italy's Meloni: probe against me may push away foreign investors
Published by Global Banking and Finance Review
Posted on January 30, 2025
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Published by Global Banking and Finance Review
Posted on January 30, 2025
ROME (Reuters) - Italy's Prime Minister Giorgia Meloni said on Thursday an investigation targeting her over the release of a Libyan war crimes suspect was bad publicity that could push away much-needed foreign investment.
"The point is that what is happening above all damages the nation ... That is what frankly drives me a little crazy," Meloni told a business conference in Milan, speaking via a video link.
Italy's leader has been placed under investigation for aiding and abetting a crime and misuse of public funds in connection with the release and repatriation of senior Libyan police officer Osama Elmasry Njeem.
Njeem was arrested in Turin on Jan. 19 on a warrant from the International Criminal Court (ICC), but freed two days later, officially because of a procedural fault with his arrest, and flown back to Libya on a government plane.
Meloni, renewing her criticism of the judiciary, said the affair was tarnishing Italy's international image, pointing out that news of her being put under investigation had made it to the front page of the Financial Times.
She said that could put off investors such as the Norwegian wealth fund Norges, which she said had recently increased its holdings of Italian sovereign bonds to more than 8 billion euros ($8.33 billion).
"After reading this news, do you think that this Norwegian investment fund that has just bought 8 billion euros of Italian government bonds will be more likely to buy 9 (billion), 7 (billion), or maybe zero," she said.
The investigation into Meloni, which also concerns three other government members, is unlikely to go to trial. Even if judges request it, it would need to be authorized by parliament, where the government has a solid majority.
Amid the controversy, and a stagnating economy, Meloni and her conservative allies remain popular. Support for her Brothers of Italy party is at an almost two-year high at more than 30%, an average of opinion polls showed on Thursday.
($1 = 0.9605 euros)
(Reporting by Alvise Armellini, Additional reporting by Angelo Amante; Editing by Crispian Balmer)