Sicilian Autonomy: Fiscal and Monetary Strategies
The paper examines strategies for maximizing Sicily's special autonomy, focusing specifically on fiscal and monetary autonomy following the approval of a new legislative decree in 2025. Two main avenues are proposed: fully implementing fiscal autonomy through targeted incentives and the creation of a competitive environment, and exploring alternative financial instruments given the impracticality of traditional monetary sovereignty within the Eurozone. The paper suggests establishing a regional development bank and exploring complementary local currencies, drawing inspiration from successful models such as those of the Basque Country and the Nordic countries. The paper highlights how, although the statutory provisions have existed for some time, their implementation has been lacking, and that the 2025 decree represents a crucial turning point for the island's economic development.
