Italy's Rienzi resigns following rejection of his proposed constitutional reforms

Monday, December 5th 2016 - 10:53 UTC

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Italian voters have dealt a serious defeat to the government of Prime Minister Matteo Renzi. In a referendum Sunday, they rejected Renzi's proposed constitutional reforms, which would have changed the balance of power between the executive and Parliament. Read full article

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ElaineB
“If the 'no' vote wins, Italy will still have the biggest, most costly and slowest parliament in Europe,” Renzi had said.

Yes, as I said in another post, the amount of people who do one term in office for a pension for life is draining the system. Taxes are so ridiculously high that just about everyone devotes their time to avoiding paying anything. Another problem is the regional governments that add yet more cost but actually work against the good of Italy as a whole.

Italy is still 12th in the rankings for GDP but has seen no growth for decades. You can understand why people are unhappy but the refusal to reform is a vote against change.
Dec 05th, 2016 - 11:37 am - Link - Report abuse -1
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Briton
At least we will now find out if all the so called experts on Italy are correct,

and the banks collapse inwards, but will the ECB step in and bail them out ?
Dec 05th, 2016 - 02:48 pm - Link - Report abuse +1
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