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The impact of Italy’s “No” vote is likely to be contained

This was not a revolt against globalisation and metropolitan elites

By Luigi Scazzieri  

(161205) -- ROME, Dec. 5, 2016 (Xinhua) -- Italian Prime Minister Matteo Renzi speaks during a press conference in Rome Dec. 5, 2016. Matteo Renzi on early Monday announced resignation, as exit polls showed the Sunday referendum opposed constitutional reforms. (Xinhua/Jin Yu) (hy) (Photo by Xinhua/Sipa USA)

The “No” vote in yesterday’s referendum was expected by most observers. But its consequences are likely to be less dramatic than many feared. While it is tempting to draw parallels between the…

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