Italexit

[worldCitizen]

But France’s election is still five months away. On Sunday, Italy is slated to vote in a constitutional reform referendum that could oust the country’s prime minister and set the stage for what some are already calling “Italexit.”

Prime Minister Matteo Renzi called a constitutional referendum for Dec. 4 that, if successful, would drastically reshape Italy’s political framework. His package of proposed changes is complicated and difficult to understand in its entirety, to say the least. So complicated, The Telegraph points out, that a startup company is actually offering “non-biased lessons” to understand the referendum for a fee of more than $150 per hour.

That doesn’t bode well for Renzi, who vowed to resign if the referendum is voted down. Polls from last month ― the most recent available ― showed the “no” campaign with a five-point lead.

If the “no” side wins, the party leading the charge against it ― the Five Star Movement, a populist party led by comedian-turned-politician Beppe Grillo ― could be catapulted into the government. With enough seats, it could then implement a referendum on Italy’s membership in the eurozone, which it has long demanded.
Crisis would ensue, many observers believe.
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