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Italy has resolved dispute with ECB over gold reserves, Treasury sources say

Published by Global Banking and Finance Review

Posted on December 11, 2025

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ROME, ‌Dec 11 (Reuters) - Italy has resolved ‍differences with ‌the European Central Bank over a ⁠draft budget amendment ‌on the ownership of the Bank of Italy's gold reserves, Italian Treasury sources ⁠said on Thursday.

The amendment, sponsored by members of ​Prime Minister Giorgia Meloni's right-wing ‌party, had raised ⁠concerns from the ECB, which said it posed risks regarding the ​Italian central bank's independence.

Italian Economy Minister Giancarlo Giorgetti and ECB President Christine Lagarde resolved the issue on the ​sidelines ‍of a ​meeting of euro zone finance ministers in Brussels, the sources said, without giving details.

The ECB was not immediately available to comment.

The ECB had twice urged ⁠Italy's ruling coalition to reconsider an amendment to the ​2026 budget law stating that the gold held by the Bank of Italy belongs to "the ‌Italian people".

(Reporting by Giuseppe Fonte, writing by Alvise Armellini, editing by Gavin Jones)

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