Italy is having a very important referendum on Sunday. The referendum is technically a constitutional reform to curb the powers of the Italian Senate, which is one of the reasons why Italian politics is constantly at a standstill. However, it is actually a vote of confidence in Prime Minister Matteo Renzi. If this referendum fails, Mr. Renzi is likely to resign. This would open the gates to new elections and the prospect of an anti EU and anti Euro party, the 5 Star Movement getting more power. There is also the risk of an Italian bank failure
I’m hoping that the referendum passes. It isn’t favored now in the polls, but this has been the year of the weird. This is an editorial in favor of the referendum