The Council of State, acting in its judicial capacity, has overturned the government's 2023 decision setting the terms for a loan issued by Cedacri, a banking software company owned by the fintech group Ion.

This is what emerges from a document.

The Council's decision deals a new blow to the 'special powers' that Italy has used in recent years to scrutinize corporate transactions involving assets deemed strategic for the country, attracting criticism from European Union authorities.

The 'golden power' rules give Rome the right of veto or the power to set conditions for corporate transactions on grounds of public order or national security.

(Translated by Jasmine Mazzarello, edited by Sabina Suzzi)