Some politicians will promise to give the citizens a referendum, if they are elected. This is what took place for Brexit. It also might have been the core element of the December 4, 2016 Italian referendum. Why does investment banker Martin Lustgarten think the Italian referendum “No” vote is important.
Italian Prime Minister Matteo Renzi had asked the citizens to decide on whether they wanted to remove power from the Upper House to pass legislation. Mr. Renzi said, this would make it easier for the government to pass laws. The Italian people voted “No.”As a result, the Italian Prime Minister Matteo Renzi resigned. Following the British Prime Minister Cameron’s resignation after Brexit, these resignations show that the people are upset. Perhaps, these governments are not completely in touch with the wishes of their constituents.
“Citizens Want Democracy”
Politicians have a lot of different interests to consider. Brexit and the Italian vote suggests “changing winds” in the European Union. Perhaps, the citizens are dissatisfied with their economic situation. Europeans are very concerned about GMO labeling and environmental issues.The European Union was a great experiment, which might have failed. The nations, which did not join fully, like Switzerland, Norway and England seem to be enjoying higher national productivity gains. Might the Italian citizens want a referendum on “leaving the European Union” next?
Investment banker Martin Lustgarten understands the importance of timing. The mood in Europe is for change. The people are stirred up. Perhaps, if the Italian referendum were scheduled in 2009, it might have passed.When you need to look at the contours of Italian banking, then investment banker Martin Lustgarten can help you. These political votes are likely to have important economic repercussions. The “natives are restless.” Future politicians might schedule even more referendums.
The good news is that the Italians voted for democracy. They understand their rights; they know that the banking sector is important to their countries. We might see more close cooperation with the politicians and bankers of Europe to resolve some of their key issues.