Italy is in the final days of a long referendum campaign. Because it can’t argue its case based on its own merits, the Yes camp relies on a psychological terror by instilling fear about the economic fate of the country. Prime Minister Matteo Renzi’s strategy, inspired by his American consultants — to be honest, they have not been very effective here — aims to mobilize those citizens whose pockets are not totally empty. Its target is what Renzi has called the “silent majority.”
Moreover, he has always believed that the referendum will be won by the right. He’s not the only one, considering the generous help he receives from various endorsement deals — last but not the least, the OECD — and numerous, well-targeted international press campaigns.
The Financial Times jumped aggressively on the subject, predicting the failure of eight banks if Yes loses. The Daily Telegraph insists on the ridiculous argument that Italy would be in danger of leaving the euro. The Sunday Times business section took a position along the same lines. Figaro Economie informs us of the disquiet in the financial markets, comparing the possible No victory to Brexit. In Italy’s economic newspapers, they add the dreaded failure of the imminent Vienna Summit on cuts to oil production. It has nothing to do with the referendum, but it is thrown into the game.