Fabrizio Carmignani

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The ‘no’ vote in Italy’s referendum triggers economic and political uncertainty

Italian voters have rejected plans for constitutional reform supported by the government of Prime Minister Matteo Renzi. This result means more political and economic uncertainty for the time being.

The aim of the reform was to end Italian’s “perfect bicameralism”; that is, the institutional arrangement whereby the house of representatives and senate have exactly the same powers and the government needs to receive a vote of confidence in both Houses. Perfect bicameralism was introduced in the first Republican Constitution, right after the end of Fascism, as a way to prevent the possible rise of a new dictator.

Over time, however, this system also reduced the efficiency and effectiveness of legislation while also increasing government instability.…  Seguir leyendo »