Will Italy shift right in an election?
The world’s leading financial media has recently sharply turned their attention to the critical consequences of Italy’s constitutional referendum on 4 December. What stirs these experts is the significance of the vote for the country’s notoriously precarious banking system and the effect of a rejection — the no vote is 5-7 points ahead in the polls — for political stability in Europe. Prime Minister Renzi wants to transform the elective Italian Senate into an apparatus of the ruling party or the government, composed of 100 senators, selectively picked from Mayors and councillors from the...