Meloni Blindsides Markets With Surprise Windfall Tax

Italian Prime Minister Giorgia Meloni recently announced a dramatic windfall tax on Italian banks in bid to ease pressure on households

Italian Prime Minister Georgia Meloni (Photo by the Italian Government)

As part of a government decree, the Italian government led by Prime Minister Giorgia Meloni introduced a windfall tax on lenders’ profits resulting from higher interest rates, with a planned levy of 40%.

The tax, which will be applied to the net interest revenue derived from the diffe…