Kosachev on Italian referendum: period of political turbulence begins in EU

Italy’s rejection of constitutional reforms, which has already resulted in Prime Minister Matteo Renzi’s decision to step down, may create problems for the EU, the head of Russia’s Federation Council Committee for International Affairs, Konstantin Kosachev, said, commenting on the outcome of the Italian referendum.

"A full-scale political crisis may be expected in Italy after the referendum on constitutional reforms," he wrote on his Facebook page adding that "the upcoming resignation of Renzi’s cabinet and a possible appointment of a ‘technical’ government may entail problems for Europe."

The Russian senator did not rule out that the governmental crisis in Italy would influence the euro exchange rate and the country’s economy in general. "Although the authorities in Brussels have been emphasizing that what happened in Italy is the country’s internal affair, some consequences are sure to follow," TASS cited the legislator as saying.

According to him, Renzi had gambled his own political future on the referendum’s outcome while the vast majority of voters said ‘no’ to his plans to distribute power between the parliament houses which some considered as ultra-liberal. "This is why the right-wing forces and nationalists believe that the referendum outcome marks their victory. Marine Le Pen has already congratulated her Italian counterparts saying it was not only a vote against Renzi but also against the EU," the senator noted.

"A period of political turbulence has begun in the EU, the Italian referendum is just one of the first acts of this possible drama," Kosachev concluded.

Italian Prime Minister Matteo Renzi announced earlier that he intended to resign, accepting his defeat in the constitutional referendum.