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luckily, the referendum on constitutional reforms must not become a battleground and division of the country. Does not think so evidently the Confindustria that using the usual “glass ball” economic forecasts (the story, not the time, proves to be constantly repudiated by reality) shoots figures on the misfortune of a possible rejection of the rewriting of the Constitution license plate Renzi. Here are the numbers of the alleged catastrophe of a no victory would lead Italy to a recession that would cost 4 percent of GDP in less than the three years from 2017 to 2019, 600 thousand more unemployed and 430,000 persons in poverty. A war report which looks like the apocalypse generated by Brexit described by leading computing centers and large institutions for days and that, after a brief emotional impact, was declassified by a temporary shock the financial markets (the London Stock Exchange has taken all losses occurred to Leave in a few days). Even for the Italian referendum therefore the economic elites are likely to run into a wall. That mood of the electorate that no longer drink more the story of the recovery and owls. The forecasts produced by the Confindustria, presented yesterday in Milan Center are considerations that will certainly appeal only to the premier Renzi, who on that vote has played in full their own political future, but do not take any account of popular sovereignty, the vote as an expression of free democracy and the need to avoid interfering in the decisions of the electorate. A slip already highlighted by the new course of the president Vincenzo Boccia throwing trash in the independence of the glorious association from political power and kneeling in front of the prime minister espousing his cause. According to Confindustria, in fact, the failure to approve the reforms, would reduce Italy to a banana republic. For Luke Paolazzi, director of CSC, there would even be a “political chaos”, which would increase the yields of government bonds, would cause a massive flight of capital and the fall of the confidence of households and businesses.
maybe you do not remember that to monitor the returns of BTP is not the vaunted political stability by the government but another Italian, perhaps more precise estimates than in the management of the Avenue of Astronomy, which responds to name of Mario Draghi in Frankfurt. The same one that has managed to limit the impact much more devastating related Brexit than the destruction of value provided by Confindustria in more provincial and restricted effect of the vote on the reforms. Someone industry warnings that it was the same Renzi to make the October vote a consultation against or in favor of his stay at Palazzo Chigi. And the Italian people has never made problems in deciding the fate of their prime when they realized that they could do little to solve their problems. In short, hardly will frighten numbers based on alleged statistical algorithms. Once again, and the silence is golden.
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