The lessons of the “no” vote in the Italian referendum

Edoardo REVIGLIO Chief economist at the Cassa Depositi e Prestiti [vc_btn title= »Dowload article (FR) » style= »outline » color= »blue » align= »right » i_icon_fontawesome= »fa fa-file-pdf-o » add_icon= »true » link= »url:http%3A%2F%2Fconfrontations.org%2Fwp-content%2Fuploads%2F2017%2F01%2FP10-11-Confrontations-116.pdf||target:%20_blank »] The Italians rejected last December the constitutional reform proposed and defended by the Prime Minister, Mateo Renzi. What can we learn from this defeat? What can it mean for democracy in Europe? Renzi Constitutional Reform was rejected with 59% of “no”. Renzi’s defeat was much larger than expected and since he strongly personalized the Referendum, it was transformed into the political defeat of his Government.  Renzi’s resigned and in a couple of weeks a new government lead by former foreign Minister Gentiloni was formed. On the issue I wish to make three brief observations. Three observations The first has to do with the short and medium future political perspective. Mr. Renzi, a large part of center right parties (with the expectation of  Berlusconi’s Forza Italia) and M5S are pushing