Italian referendum proposal rejected by parliament

Italy to stay in eurozone after rejecting referendum to leave the euro currency

Photo by: AP
Photo by: AP

Updated Jul 28, 2015

Italy’s parliament senate turned down a call by the Five Star Movement (M5S) party for a referendum which was proposed on July 5 on the country’s membership to the eurozone.

The proposal given by the opposition party to the Senate came after the much debated Greek referendum, which called on Greek citizens to vote “Yes” or “No” to its creditors’ proposals regarding tax raises and pension alternations.

Despite growing concern Greece could exit the eurozone if the government fails to reach a deal with the creditors, 61 percent of Greeks voted against the continuation of EU-imposed austerity measures to secure further funding from a bailout.

After the “No” campaign victory in Greek referandum, several countries see the way out of the eurozone, as well as th EU itself, as a result to the financial crisis they are facing.

United Kingdom has already scheduled a referendum to happen before 2017 regarding the country’s membership in the European Union.

The M5S, a eurosceptic party led by Beppe Grillo, holds 91 out of 630 seats in the Italian Chamber of Duties and 36 out of 315 seats in the Senate of the Republic.

The opposition party managed to collect 200,000 signatures in favour of Italy leaving the eurozone, trying to pass a bill in order to achieve a referendum on the matter.

"PD (Democratic Party), Forza Italia, NCD (New Centre-Right party), Conservatives and Reformists, they are all united against democracy and terrified of giving citizens a say," M5S said in a statement, according to the Il Fatto Quotidiano newspaper.

TRTWorld and agencies