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Italian Financier Francesco Micheli Recalls Encounters with Power Brokers, Including a Young Berlusconi

MILAN – Francesco Micheli, a prominent figure in Italian finance, has offered a glimpse into his decades navigating the corridors of power, recounting encounters with influential figures like Eugenio Cefis, Enrico Cuccia, and a then-unknown Silvio Berlusconi. In a recent interview, Micheli described himself as “a bit the talking cricket of power,” observing the powerful “very closely, but also a little from the outside.”

Micheli’s career placed him at the intersection of Italy’s financial and industrial giants. He recalls a close relationship with Eugenio Cefis, the head of Montedison, a major chemical company. Micheli was surprised when Cefis abruptly announced his resignation to Enrico Cuccia, the powerful head of Mediobanca, a leading investment bank. “With Cefis we had developed a relationship that had become very close in the years and surprised me when from one minute to the other in 1977 he told me he was about to go to Cuccia to announce his resignation.” Cefis, then only 56, disappeared from the public scene.

Micheli also recounted an instance where he questioned Cuccia’s valuation of Italian credit on the stock exchange. “Even in front of Cuccia as I said I was always a bit the talking cricket, when he makes the listing of Italian credit on the stock exchange at a crazy price, that I was more or less just arrived, I am at the table with him and seven, eight managers and naively I say: but how do you do this quotation? He was petrified he looked in my eyes and everyone was thrilled to say: this is crazy.”

Micheli believes he ultimately “won” against Cuccia, surviving what he describes as harassment.”In the end I won, for the fact that I

What do you believe is the lasting impact of these figures on Italian society adn the global financial landscape?

Italian financier Francesco micheli: A look Back at the italian Power Brokers

MILAN – Archyde’s News Editor,Isabella Moretti,recently sat down with Francesco Micheli,a celebrated Italian financier,to discuss his career at the heart of italy’s financial and industrial landscape. Micheli offered insightful reflections on his encounters with some of Italy’s most influential figures, including Eugenio Cefis, Enrico Cuccia, and an emerging Silvio Berlusconi.

Micheli’s Early Days and Cefis’s Abrupt Departure

Isabella Moretti: Mr. Micheli, thank you for joining us. Your career has been remarkably positioned at the intersection of Italian power. Let’s begin with your relationship with eugenio Cefis, the head of Montedison. Can you tell us about that?

Francesco Micheli: Grazie,Ms. Moretti. It’s my pleasure. Cefis and I developed a close relationship.I was, and always will be, a witness.I found it surprising when in 1977, he abruptly announced his resignation to Enrico Cuccia. he was only 56, and than, he seemed to disappear from sight. It showed me the ruthlessness of the game.

Navigating the Complex World of Enrico Cuccia and Mediobanca

Isabella Moretti: You’ve described yourself as a “talking cricket,” often observing from the outside. How did this viewpoint shape your interactions with Enrico Cuccia of Mediobanca?

Francesco Micheli: Even in front of Cuccia, I was always a bit the talking cricket. Once, when he was making the listing of Italian credit on the stock exchange at, what I believed, was an inflated price, I posed a naive question to him and several managers. I asked how this valuation was arrived at. He was petrified. The room was electric with the risk I had taken. And I survived what I can only describe as harassment that followed. But I won.

A Young Berlusconi and the Shifting Sands of Power

Isabella moretti: You are a man who has also crossed paths with a young Silvio Berlusconi. What are your recollections of that time?

Francesco Micheli: Berlusconi was then a very young,ambitious man,very different from the image he would later cultivate. He was already building. Those early encounters offered a hint of the immense influence he would eventually wield. He had big ideas.

Reflecting on the Legacy of these Influential Figures

Isabella moretti: Looking back, what do you believe is the enduring legacy of figures like Cefis, Cuccia, and, of course, Berlusconi?

Francesco Micheli: They all, each in their own way, shaped modern Italy. Cefis was a master strategist in the industrial market. Cuccia, he controlled the financial levers. Berlusconi? He redefined the politics and media forever. The choices, good and bad, shaped Italy. It is up to the next generations to do better.

Concluding Thoughts

isabella Moretti: Mr. Micheli, thank you for your time and insights. It’s been enlightening to here your firsthand account of these pivotal moments in Italian history.

Francesco Micheli: It was my pleasure. Thank you for the opportunity. The lessons of history offer guidance for today.

What do you believe is the lasting impact of these figures on Italian society and the global financial landscape? Share your thoughts in the comments below.