Lorenzo Genito, doctoral researcher in the University of Warwick’s department of Politics and International Studies, comments on the impact of the Italian referendum and the resignation of PM, Matteo Renzi.
“Following the referendum result, the question now is what happens next? The President of the Republic, Sergio Mattarella, will be the key player in determining whether there will be early elections or a care taker government. Whatever he decides to do, the balance of power in Italian politics has been put into question.
“With rising support for the Eurosceptic, populist Five Star Movement, Italy’s commitment to the European project may also be disputed. Financially, markets didn’t seem to have panicked as much, probably indicating their guess that snap elections are not going to happen. However, everything remains on the table.”