Italian Premier to Resign After Losing Referendum, in Victory for Former Comedian
ROME – Italian Prime Minister Matteo Renzi announced Monday that he will resign after losing a referendum on constitutional reforms, handing a major victory to former standup comedian and blogger Beppe Grillo’s anti-establishment 5-Star movement, which is now determined to lead the country.
Renzi had maintained that reforms to streamline Italy’s lawmaking process were key to kick-starting the Italian economy and modernizing the country. But the “No” campaign in Sunday’s referendum won resoundingly, with 59.1% of the vote, against 40.9% for the “Yes” side. More than two-thirds of Italy’s eligible voters cast ballots.
Italy’s filmmaking community had widely supported “Yes,” with Oscar-winning directors Paolo Sorrentino and Gabriele Salvatores, among many others, recently launching an appeal for what they called a “logical and natural choice.”
One possible implication of the “No” vote for Italy’s film and TV industries is that a long-awaited film funding law will now be stalled. The new legislation, which would raise production tax credits from the current 25% to 30% for international film and TV productions, has been been approved by both houses of parliament but still needs a final decree to go into effect.
The “No” victory at the polls is widely seen as the latest manifestation of a populist, anti-establishment wave sweeping the West, which includes the Brexit vote in the U.K. and the election of Donald Trump in the U.S.
Grillo (pictured), who had a busy career as a TV comic and standup performer in large venues before turning to the Internet to launch the 5-Star movement, is a proponent of another referendum on Italy’s membership in the euro, which he opposes.
News of Renzi’s resignation sent the euro plunging to a 20-month low, close to parity against the dollar, amid fears that Italy’s instability will re-ignite a European financial crisis.
Renzi said he would hand in his resignation today to Italian President Sergio Mattarella. He is widely expected to be asked to remain in charge until a key budget bill can be passed later this month. Mattarella is then likely to appoint a caretaker government until elections scheduled for 2018, though he may be forced to call an early national vote. In either case, the 5-Star movement, now an opposition force, will be looking to gain power by riding Italy’s anti-establishment wave.
Former Italian prime minister and media mogul Silvio Berlusconi also campaigned for “No” and is attempting a political comeback, but his Forza Italia party has lost its luster and his tax-fraud conviction is keeping him out of public office.
Related stories
Fox Italy Appoints Former Disney Exec Paul Zonderland as New Head
NBCU Strikes First European Deal for 'Hidden Singer' With Discovery for Italy
Disney Changes 'Moana' Title in Italy, Where It Has Porn Star Connotations
Get more from Variety and Variety411: Follow us on Twitter, Facebook, Newsletter
