I golden powers e il difficile bilanciamento tra libertà di mercato e sicurezza esterna nell’Unione europea

This contribution examines golden powers as regulatory tools that strike a balance between market freedom and the public interest in security. It explores how these powers reconcile the core principles of the single market with the need to safeguard the European Union from security threats. The analysis focuses on the Court of Justice's ruling in the recent Xella case, alongside the more recent proposal to reform the 2019 Regulation. The goal is to assess which foreign investments can be subject to golden powers and under what conditions they may be exercised.