Monday, December 5, 2016

Italy : the president asks Matteo Renzi to postpone his resignation – The Point

The head of the Italian government Matteo Renzi has won Monday, a few days of reprieve before his resignation is expected, in order not to leave Italy without a budget, in the aftermath of the defeat of his constitutional referendum. After a council of ministers that lasted barely ten minutes, Matteo Renzi, 41 years old, had delivered on Monday night its fate in the hands of the president Sergio Mattarella, head of State discrete that he met half an hour at the Quirinale, seat of the Italian presidency. Sergio Mattarella, age 75, has taken note of the will of the young president of the Board to resign, but he was immediately asked to postpone its decision until the final vote of the finance act 2017, according to a press release from the presidency. This vote in the Senate, after a first vote that has already been acquired in the Chamber of deputies, could take place before the end of the week, according to Italian media.

Country ungovernable

“My experience as head of government stops there”, had soberly summary in the night Matteo Renzi (center-left), even before the 59,11% of non-at “his” constitutional reform to be official. “I lost, and I take full responsibility”. After this budget is finally adopted, Sergio Mattarella should appoint a “technocratic” government, entrusted primarily to reform the electoral law. To the chagrin of the populist Movement 5 stars (M5S) and Northern League have called for a dissolution immediate of Parliament. “The Italians must be called upon to vote as quickly as possible,” insisted Beppe Grillo, leader of M5S on his blog. “The first political force in the country, we are ready to do all the necessary steps to get to the elections”, he added. “From next week, we will begin to vote on the internet our programme for government, and then on our team,” he continued.

the Same speech from the side of the Northern League, anti-euro and anti-immigration, whose leader Matteo Salvini has also called for elections quickly. According to the latest polls, the M5S could win the majority in the Chamber of deputies, carried out by the same malaise that has pushed the vote in the Brexit on the United Kingdom, at the election of Donald Trump to the United States or even to the 47% obtained Sunday by the extreme right in Austria. But the electoral law current, adopted in may 2015, sets out the premium in the majority for the lower chamber. The failure of the constitutional reform maintains all of its powers to a Senate, which remains elected by proportional representation, which is likely to make the country ungovernable.

political Instability

The other political formations, the majority in the current Parliament, seemed to agree on the need for a new electoral reform, the contours of which remain uncertain. Several names were circulated to take the result of Matteo Renzi, of which his Finance minister, Pier Carlo Padoan, or even the president of the Senate, Pietro Grasso. In the Face of these uncertainties, the european partners and the financial markets fear a new phase of political instability in the third largest economy of the euro area, at a time when its banks show worrisome signs of weakness.

The German foreign minister, Franck-Walter Steinmeier, has noted that the victory of the non “was not a positive message for Europe in these difficult times”. On Monday, the Milan stock Exchange was slightly down, but the other european stock markets have, overall, increased. The euro recovered after diving in the night to its lowest level since march 2015. “The non-had already largely been taken into account”, explained the economist Lorenzo Codogno.

Came to power in February 2014, Matteo Renzi leaves behind him a Italy has returned to growth, but not enough to change the game in the country. Monday in the early afternoon, it was announced on social networks, a set of 45 fact sheets presenting its balance sheet, labour reform, civil unions, etc. – with this comment: “the Thousand days are difficult but beautiful. Thank you to all, long live Italy”. Arrived on a program of reforms in all directions, and renewing the political class, he has quickly worn out its message of voluntarism inspired by the “Yes we can” of Barack Obama.


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