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Italian referendum: Markets and Renzi braced for a No vote

From telegraph.co.uk

The referendum gives voters a say on a package of electoral reforms which the Prime Minister says should help shake up Italy's gridlocked system of government. Currently the two houses of parliament have exactly equal powers, so little can happen when they are in disagreement. Mr Renzi wants to reduce the size and power of the senate to remove this barrier to his economic reforms. He also wants the senate to be made up of officials such as local politicians from across the country, rather than directly elected. Mr Renzi also wants to take power back from some Italian regional governments. It is not straightforward, ... (full story)

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