Post by racechick on Sept 1, 2016 23:46:05 GMT
I mentioned some time ago that Italy are having an important referendum in October to try to bring about a change to their political system without which Italy , the Euro and likely the EU will be heading down the pan.
Italy in an economic mess, historically it has devalued to get out of such messes, but it can't do that now it's in the Euro. Add to that, its whole system is corrupt with two houses vying for power, private enterprise and the unions with vested interests and constantly changing prime ministers.
Renzi ( the PM) goes to the country in October in a referendum asking for the power to push through reforms. Yes and no are running neck and neck with a sizeable chunk undecided. If he looses Renzi will resign. ( ring any bells?)
If he wins, it's not all plain sailing, the militant left may move to take over the party as has happened in the UK with the Labour Party. If that happens they may not push through the reforms.
If he looses and there's an election his party and the 5-star movement ( a party neither right nor left leaning but antiestablishment , anti EU and wanting more wanting more participatory democracy) are about equalon30%ofthevite each. A further 13% go to Belersconi, of bungalow, bungalow fame; and a similar percentage to Forza Italia ( another anti-establishment party)
So Italy is a it of a tinderbox at the moment. If you want to read about it in more detail, it's in the link below. The article finishes with this......
"If Renzi wins come October, the eurozone has fresh hope. But if he fails, Italy fails—and very likely the eurozone fails too."
www.marketoracle.co.uk/Article56402.html
Italy in an economic mess, historically it has devalued to get out of such messes, but it can't do that now it's in the Euro. Add to that, its whole system is corrupt with two houses vying for power, private enterprise and the unions with vested interests and constantly changing prime ministers.
Renzi ( the PM) goes to the country in October in a referendum asking for the power to push through reforms. Yes and no are running neck and neck with a sizeable chunk undecided. If he looses Renzi will resign. ( ring any bells?)
If he wins, it's not all plain sailing, the militant left may move to take over the party as has happened in the UK with the Labour Party. If that happens they may not push through the reforms.
If he looses and there's an election his party and the 5-star movement ( a party neither right nor left leaning but antiestablishment , anti EU and wanting more wanting more participatory democracy) are about equalon30%ofthevite each. A further 13% go to Belersconi, of bungalow, bungalow fame; and a similar percentage to Forza Italia ( another anti-establishment party)
So Italy is a it of a tinderbox at the moment. If you want to read about it in more detail, it's in the link below. The article finishes with this......
"If Renzi wins come October, the eurozone has fresh hope. But if he fails, Italy fails—and very likely the eurozone fails too."
www.marketoracle.co.uk/Article56402.html