What Renzi's Referendum Means For Italy And The Eurozone05:55
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Protesters march past a poster depicting Italian Premier Matteo Renzi during a demonstration ahead of a referendum over a constitutional reform, in Rome, Sunday, Nov. 27, 2016. (Andrew Medichini/AP)
Protesters march past a poster depicting Italian Premier Matteo Renzi during a demonstration ahead of a referendum over a constitutional reform, in Rome, Sunday, Nov. 27, 2016. (Andrew Medichini/AP)
This article is more than 2 years old.

On Sunday, Italians vote on whether to pass sweeping changes to the Italian constitution proposed by Prime Minister Matteo Renzi. The reforms would reduce the number of senators in the legislation, which Renzi says would reduce bureaucracy and government gridlock.

Because Renzi has said he'd step down if the referendum fails, the vote has become a referendum on Renzi himself. After the Brexit vote, some are worried that Renzi’s failure could bring a financial crisis in Italy and further destabilize the euro.

Here & Now's Jeremy Hobson talks with Lorenzo Codogno (@codogno), founder of LC Macro Advisers and former chief economist at the Italian Treasury Department, about the referendum.

This segment aired on December 1, 2016.

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