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International Business Times
International Business Times
Business
Brigitte HAGEMANN

Buried In Massive Debt, Italy Puts Crown Jewels Up For Sale

Italian Prime Minister Giorgia Meloni faces a 2.8-trillion-euro public debt pile (Credit: AFP)

Prime Minister Giorgia Meloni once declared Italy's postal service a "crown jewel" that must stay in state hands, but she is now selling a stake as part of a privatisation programme to tackle a huge public debt.

Meloni's hard-right government aims to raise 20 billion euros ($21.6 billion) by 2026 by selling off a stake in Poste Italiane, which turns big profits through its insurance and banking operations, as well as stakes in rail company Ferrovie dello Stato and energy giant Eni.

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