“The Italian Referendum: What You Need To Know” Tyler Durden, Zero Hedge, 28 September 2016

"The constitutional reform that is voted on in the referendum is part of a package aimed at making the political system more stable and facilitating decision-making"

Constitutional reform will be voted this December 4th and the result is yet uncertain. Depending on it, President Mateo Renzi could resign, even though he has been lately trying to clarify that the result of referendum has nothing to do with his decision to step down from the post of Prime Minister. Thus, he might remain until elections in 2018. Another option would be the resignation of Renzi, to be replaced without new elections taking place. If the NO wins, "political uncertainty increases and reform progress takes a step back". Part of this uncertainty would come from the rise of the Movimento 5 Stelle, which has gained most after the UK referendum, and could challenge the PD’s position in power. The aim of the constitutional reform is to give more stability to the political system and accelerate the decision-making process. This package of reforms will include the electoral reform (Italicum) and the reform of the Senate. Italicum already became effective this year, but it has been already challenged in court.

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“The Italian Referendum: What You Need To Know” Tyler Durden, Zero Hedge, 28 September 2016

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