For those of you who don’t know, during the recent referendum in Italy, the Italians voted against the constitutional reform offered by Premier Minister Matteo Renzi. This resulted in him wanting to resign his post. This means, that Italy is about to face a period of uncertainty, with either reformatting the government or early parliamentary elections.
As for Italian experts, they are not concerned about the fact that the people voted against the reform. They are afraid that in case of early parliamentary elections, we may well see populists and Euro-skeptics coming into power in Italy, which is one of the pillars of the Eurozone and the EU in general. If that’ the case, the fate of the Eurozone will be in jeopardy.
At this point, the President of Italy is facing a difficult decision – to announce early parliamentary elections or let politicians create a new government from the coalition. Anyway, this increase the chances of populists and Euro-skeptics coming into power in Italy to promote the idea to hold a referendum to quit the Eurozone.
At the same time, Italy really needs reforms badly, yet they need to be more radical than offered by Premier Renzi. Otherwise, the entire Eurozone and the European Union will face serious consequences in the near future.
After losing at the referendum, Matteo Renzi deiced to follow the example of his British fellow David Cameron, who resigned instantly after the Brexit referendum resulted in a positive decision to quit the EU for good.
