Today the Italians started voting on a referendum on constitutional reform which, in the wave of populism in Europe, is turning into a declaration of support for the Prime Minister Matteo Renzi, who promised to resign in case of failure.
Polling places were opened at 7 am and will be closed at 11 pm for more than 46 million Italians who have the right to vote, while around four million Italians abroad could vote via mail until Thursday night.
First exit polls are expected upon the closing of the polling places and preliminary results during the night between Sunday and Monday.
Uncertainty of the Italian referendum concerns Europeans and financial markets because it is feared that after the shock caused by Brexit and the growth of populist movements a new instability might appear in Italy, the third economy of the Eurozone.
Italians are voting on a constitutional reform which foresees drastic reduction of authorities of the Senate and the voting is de facto a plebiscite about the Prime Minister Matteo Renzi because he promised to resign if the reform does not pass. That might lead to political paralysis and enable the populist, Euro-skeptical opposition parties to come closer to winning the authority.
Majority of the political class invite the voters to vote ‘NO’, warning that the proposed reform would concentrate the power in the hands of the head of the state.
Latest polls published two weeks ago gave five to eight percent of advantage to ‘NO’, but there was also a large number of undecided voters.
U.S. President Barrack Obama, German Chancellor Angela Merkel and President of the European Commission Jean-Claude Juncker openly incited the Italians to support the reform.
Constitutional reform foresees the farthest reaching institutional reordering since Italy became a republic 70 years ago.
Key element of the reform is that it abolished the obligation that all laws must be approved by both houses of parliament. In the future, the House of Representatives would decide on the majority of issues, including voting on government trust and national budget.
(Source: ba.n1info.com)
