Italy

Trading in the troubled bank’s shares was repeatedly halted on the Italian stock exchange on Friday. The MPS share price closed 10% lower as the bank’s board held a meeting that had already been scheduled before the reports that the ECB had rejected its calls for an extension to the deadline to bolster its financial position.

The reform, which intended to eliminate the model known as ‘perfect bicameralism’ and reduce the amount of members of the Senate, among other things, didn’t reach the majority of votes, and therefore Renzi, at midnight in Italy, announced on TV that he will officially submit his resignation to the President of the Republic. ‘The Italian people have spoken unequivocally (…) I lost and I will leave my seat. My experience in government has come to an end’, the Prime Minister said in press round filled with journalists. Renzi expressed the need to make reforms in Italy, and called to keep on fighting.

December 4th was a great day in Italy. We hoped such an outcome, but did not expect it. When we saw so much turnout by voters we were not sure how to interpret it, because the media and the government had claimed that more voters would result in a higher percentage of “yes” to the constitutional reform. Well, it was the other way round. An unprecedented (for a referendum) participation rate brought to a clear rejection of the reform proposal, and of the government.

BEFORE American voters—especially white, male, rural and older ones—carried Donald Trump to victory in America’s presidential election, aggrieved British voters with a similar profile voted to leave the European Union. Equally surly voters in France have been flocking to Marine Le Pen of the far-right National Front for months; she is tipped to make the run-off in next year’s presidential election. Alternative for Germany, an anti-immigrant party, is picking up support ahead of a federal election in Germany, also in 2017.

This election is great news. A lesson in democracy. In Trump's program, there are such theses as putting an end to wars and the export of democracy around the whole world, revising NATO and the UN’s roles, and pursuing friendly relations with Russia. Great attention is also paid to what is happening in the United States: the war against illegal immigration and the introduction of proportional taxation (a flat tax).

It is important both because of its content as well as for the symbolic meaning it has assumed. The strokes of the counter reform against the constitution fall very hard. The newly conceived Senate (Upper House), for instance, retains important powers (such as on constitutional questions, in the relations with the EU, about local authorities, the election of the president, etc.), but should no longer be elected. The Senate was thus not abolished, as

Il s’agit en fait plus précisément des cellules stay-behind (littéralement : restés derrière), qui étaient des réseaux clandestins coordonnés par l’OTAN. Implantées dans seize pays d’Europe de l’Ouest, ces cellules visaient à combattre une éventuelle occupation par le bloc de l’Est, se tenant prêtes à être activées en cas d’invasion par les forces du Pacte de Varsovie. La plus

The strokes of the counter reform against the constitution fall very hard. The newly conceived Senate (Upper House), for instance, retains important powers (such as on constitutional questions, in the relations with the EU, about local authorities, the election of the president, etc.), but should no longer be elected. The Senate was thus not abolished, as Renzi’s propaganda pretends, but it was democracy has been abolished.

The location of the third European No-Euro-Forum itself, Chianciano Terme in Tuscany, can be considered symbolic for the urgent need of an exit strategy to leave the corset of the currency union: during the 80ties it was a prosperous small town with it’s hot springs and hundreds of hotels where workers and pensioners spent their spa stays, financed from a

A Conversation With Matteo Renzi. Matteo Renzi discusses the political and economic issues facing Italy and the European Union