IF RENZI WINS, IF RENZI DEFEATED

by Massimo Colaiacomo

     Picking personalized the referendum, PM Matteo Renzi have put his personal fate on the balance. Right or wrong, that choice marked the campaign for all time. The unavoidable consequences having everyone's eyes on one: voter are going vote next 4-th december to decide the stability of present government or his eviction. Renzi is aware of that but nevertheless he carried on his project until last minute, putting voter toward turning point: if YES will win, the government can carry on his job, on the contrary PM will be ready to pass the hand.

     In that case, it will be to the Republic's President resolving the tangle of crisi that would announce really intricate. In favor of Renzi plays people's boredom for the old ruling class. The main old leader as Berlusconi, D'Alema, Monti are favorable at NOT on the constitutional referendum. In the leaflet sent to the million people, all former PM are picked up on the ideal bunch and charged having blocked any reform for last 30-th years. It matter of hard and persuasive image, although many voters are convinced of the contrary. Main problem of PM has been inadequate answer to the economic and social crisis and Italy is going through a bad moment in financial market on the grounds that is increased the spread with T-Bond until 190 basis-point. This circumstance will have inevitable consequences on the public debt. This one or next government could be forced definitely to adopt a new budget.

     A big picture of Italy's problem shouldn't allow at the moment mistake or lack of attention on the running of public debt. Market monitor trend of spread and will be ready for a new speculation against Italy's bond if the referendum's outcome should punish the present government. Although the experience show that speculation move in advance compared with events. Anyway, the opposition criticize the PM for his campaign too much arrogant, carried on without care for other parties. The economic pledge undertaken by PM are really heavy for treasury. None of the opposition's party has prompt the possibility a new heavy budget after vote of 4-th december. If Renzi win or will be defeated, all chickens of public debt come home to roost.