The banking crisis in Europe has three distinct legs according to Lorenzo Codogno and Mara Monti. The first leg was purely financial contagion from the sub-prime crisis in the US to toxic assets held in bank portfolios in Europe, while the second wave was equally intense, amid the negative feedback loop between banks and sovereigns. The third wave is […]
One of the key concerns raised since Matteo Renzi’s resignation as Italian Prime Minister is that a period of financial instability could damage Italy’s already fragile banking system. Mara Monti writes that although the short-term market reaction to Renzi’s resignation was fairly mild, there may be a more severe reaction if the political situation cannot be resolved before the […]
Following the outcome of today’s referendum, President Mattarella will do his best to avoid early elections. Any new caretaker government would easily take a full year to deliver a new electoral law and thus the baseline case remains for elections no earlier than the natural end of this parliamentary term in spring 2018, writes Lorenzo Codogno. The tail risks […]
Following the outcome of Sunday’s referendum, Italy’s President, Sergio Mattarella, will do his best to avoid early elections. Any new caretaker government would easily take a full year to deliver a new electoral law and thus the baseline case remains for elections no earlier than the natural end of this parliamentary term in spring 2018, writes Lorenzo Codogno. He […]
What does the result of Italy’s constitutional referendum mean for the country moving forward? Valentino Larcinese argues that the vote should be seen as a positive development for Italian democracy, albeit one that has opened up deep divisions which will take time to heal.
Check out EUROPP’s full coverage of Italy’s constitutional referendum.
Sunday, 4 December 2016, was an extraordinary day for Italian […]
Italian Prime Minister, Matteo Renzi, has announced he will resign following defeat in the country’s constitutional referendum. We asked a number of EUROPP contributors for their immediate thoughts on the result, Renzi’s resignation, and where Italy is heading next.
Alberto Alemanno: “The vote has killed the dream of once in a generation change”
James Newell: “The result was not simply another […]
On Sunday, 4 December, Italians are going to the polls to approve or reject the proposed constitutional reform, promoted by PM Matteo Renzi. The referendum may also carry political and economic consequences, as Renzi has stated he would resign in case the reform should not be approved. In the run up to the vote, Silvia Merler summarises some of […]
Criticism of Renzi’s constitutional reform is wide of the mark – it would make Italy’s institutions more efficient and responsive
In the final days of campaigning before Italy’s referendum, we are featuring a number of articles on the pros and cons of the proposed constitutional changes. In this contribution, Corrado Morricone takes issue with recent criticism of the reforms, arguing that they would make the country’s institutions more efficient and responsive to the needs of citizens.
Interested in other points […]
Who’s afraid of the Five Star Movement? Why Italy leaving the euro remains unlikely regardless of what happens on Sunday
Several observers have raised the possibility that should Italy’s constitutional referendum result in a No vote, it could leave the door open for Beppe Grillo’s Five Star Movement (M5S) to win power at the next Italian election. As James L. Newell writes, there has been particular concern over this prospect due to the Five Star Movement’s commitment to hold […]
The constitutional referendum scheduled for 4 December in Italy has been viewed as a key event for the country’s political stability. However, James L. Newell argues that the picture is far more complex than has commonly been recognised, with both a yes and a no vote likely to lead to a period of uncertainty.
Italy’s constitutional referendum, due to […]
Many Italian citizens living outside the country will have the opportunity to vote in the constitutional referendum on 4 December. But what impact could these votes have in shaping the result? Lorenzo Piccoli highlights that with voters outside Italy accounting for around 8 per cent of the electorate, the count at the Civil Protection Centre in Castelnuovo di Porto, […]
Italy’s constitutional referendum is fast approaching and financial markets are already jittery. Lorenzo Codogno and Mara Monti write that while some observers have pointed to the risk of the Five Star Movement getting into power, or even Italy leaving the euro, these are unlikely developments, at least in the short term. The real issue is not about political instability, […]
Italians should back the constitutional reform – there is no guarantee this opportunity will arise again
As part of our series covering Italy’s constitutional referendum, scheduled for 4 December, Marco Simoni outlines a case for a Yes vote. He argues that the proposed reform would address a number of key institutional weaknesses in the country, and that by improving the functioning of Italian democracy, it would help establish proper accountability and trust in the political […]
Unless the Yes campaign can shift tactics, Italy’s constitutional referendum is heading for a No vote
Italy’s constitutional referendum, scheduled for 4 December, has been billed as a vote of confidence in the country’s Prime Minister, Matteo Renzi. James Dennison and Jonas Bergan Draege illustrate, however, the more voters are invited to link the proposed reforms to Renzi, the less likely they are to support them. They suggest that with support for the reforms falling […]
On 4 December, Italy will hold a referendum on constitutional reform that has come to be viewed as a vote of confidence in Matteo Renzi’s government. Fabio Bordignon writes that Italy now has two very different paths in front of it: a Yes vote will potentially lead to a more presidential form of politics, while a No vote could […]
Italy will hold a referendum on constitutional reform before the end of the year, with the country’s prime minister, Matteo Renzi, indicating that he will resign if the referendum fails. Gianfranco Pasquino and Andrea Capussela provide a comprehensive assessment of the proposed reforms, arguing that they would be unlikely to meaningfully improve Italian governance and could reduce levels of […]
Italy’s prime minister, Matteo Renzi, has stated that he will resign if he loses a referendum on constitutional reform scheduled to take place before the end of the year. Lorenzo Codogno writes that although the referendum will have major implications for the Italian government and the next general election, concerns about the wider impact on Italy’s political and financial […]
The human cost of the earthquake which hit Italy on 24 August was disastrous, with nearly 300 people killed and almost 400 injured. But the earthquake will also have both a short and long-term economic impact on the country. Lorenzo Codogno attempts to estimate the size of this impact, noting that the nature of the economic damage, the lack […]
One of the potential problems created by the free movement of people is that skilled workers are drawn toward more developed areas, undermining the development of their own regions. As Riccardo Crescenzi, Nancy Holman and Enrico Orrù write, this process, commonly referred to as ‘brain drain’, can present a number of challenges for less developed European regions. However, drawing […]