5 Questions, Answered about Italy’s Referendum
This Sunday, December 4th, Italy will hold a constitutional referendum.
And while this isn’t a referendum to remain or leave the European Union, like the United Kingdom’s referendum in June, it still matters. European markets, the future of trade, the economy and global relations all could shift depending on the outcome.
It behooves you to know what’s happening and what could happen as a result. You’d be forgiven, though, for not understanding what Sunday’s referendum is all about. One of the leading Italian research institutes, Demopolis, reported that nine out of ten Italians have not understood the upcoming referendum on constitutional reform.
What is the Italian Referendum and Why is it Important? Italy’s referendum will decide on a series of constitutional reforms that would considerably restrict the size and power of one out of the two houses of Italian parliament. This effort was drawn up to reform the country’s endemic corruption and inefficient systems of governing.
Italy’s current Prime Minister, Matteo Renzi, has lobbied strongly for a ‘yes’ vote, which would strengthen the central government, while weakening the regional provinces.. The Prime Minister has flip-flopped on his promise resign if voters in the country reject the referendum – but considerable speculation has indicated made Renzi’s exit still a possibility.
This post was published at Examiner on December 3, 2016.