On December 4, Italian Prime Minister Matteo Renzi’s current pro-EU government is holding a referendum on changing Italy’s constitution.
In effect, a “Yes” vote is a vote of approval for Renzi’s government.
A “No” vote is a chance for the average Italian to give the finger to EU bureaucrats in Brussels.
Given the intense anger Italians feel right now, it’s very likely they’ll do just that.
According to the latest polls, the “No” camp has 54% support and all of the momentum. Even prominent members of Renzi’s own party are defecting to the “No” side.
If the December 4 referendum fails, Renzi has promised to resign. Even if he doesn’t, the loss would politically castrate him. In all likelihood his government would collapse. (Italian governments have a short shelf life. There have been 63 since 1945. That’s almost a rate of a new government each year.)
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