08-15-2016, 02:55 AM
Today the future looks considerably less bright, and less assured, for the former mayor of Florence. In a few months, probably in November, Italians will head to the polls to vote in a referendum on a constitutional reform that Renzi says will make it easier to pass legislation by dramatically restricting the powers of the senate, a major source of political gridlock. But whereas as recently as a few months ago a win for Renzi seemed likely, things are suddenly a great deal more complicated. And when the Italian prime minister contemplates the fate of David Cameron, consigned to political history after his own ill-starred referendum, he must feel distinctly queasy. Much like Brexit in the UK, the referendum is increasingly being seen as a way for Italians to air their general discontent with the establishment, in large part because Renzi swore that he would leave politics if the referendum did not go his way. If he loses his gamble, the results of the referendum could have vast consequences for Italy and the whole of Europe. A defeat could potentially open the door to a new national election that could see the Eurosceptic, populist Five Star Movement push the Democratic party out of power.
Will Italy be Europe’s next casualty as Renzi risks all on referendum? | World news | The Guardian
Italy's economy failed to grow between April and June as the country struggled with its creaking banking sector. GDP growth shrank to 0% in the second quarter compared to 0.3% in the first quarter.