Next its Italy to go on Poll for Constitutional Reforms

Next its Italy to go on Poll for Constitutional Reforms

Entire Europe as well as the global economy is still waiting for the total riffle effect of United Kingdom's decision to exit the EU and already news of another referendum from an EU member nation is coming up.


This time it's Italy. The only saving grace is the referendum is not about a 'leave' or a 'stay' vote. It is all regarding constitutional reform package in Italy.


According to Matteo Renzi, the Italian Prime Minister those reforms will simplify and speed up the course of passing laws in the country and are long overdue. They will also end decades of Italy's notorious revolving-door governments.


However, some analysts say that the October vote might boomerang on the present government itself, tuning tables for Renzi in office for 2 1/2 years just like U.K's referendum boomeranged for David Cameron.


Italy's shaky banking system, high rate of bad debt, slow economic growth, high rate of unemployment and a surging wave of anti-establishment sentiment among the Italians, the country could be on the edge of a major crisis. Renzi's constitutional reforms referendum might just serve as a trigger opines several analysts.


Although, several opinion polls reveal the 'yes' vote on the lead supporting the changes but test polls often have proved to be unreliable in many of the European ballots in current times. If the referendum fails, Renzi says he will resign and that eventually means an early election for Italy in 2017.