After talking with President Sergio Mattarella, it was decided that Matteo Renzi would delay his resignation until Friday (9 December), after the country’s budget law is hopefully pushed through by the Senate.
So what happens then? It is a legitimate question, given the number of possible scenarios available following the referendum result.
One option that has been bandied around is a technocratic government, but that seems like a difficult road to go down, given the political majority needed for it to work. After the sharp contrast that emerged in Sunday’s vote, it is verging on impossible.
In case of the first option, an institutional figure, like President of the Senate Pietro Grasso, would be asked to guide the government and push through a new electoral law, with the aim of ensuring the smooth day-to-day functioning of government and calling a new election in 2017.
The second option would be to entrust leadership to a figure close to the current government, with an emphasis on economic priorities.
The path chosen by Renzi pointed towards a very short period of transition, but the pros and cons of how to proceed are still being weighed up by the president’s office.
The idea is to push through the budget law as quickly as possible and for Renzi to stay at Palazzo Chigi until the green light is given, presumably on Friday (9 December).
The preferable option will be the one that minimises the impact of Renzi’s departure, particularly in terms of the financial markets. Damage as so far been negligible, given that many traders correctly predicted that the vote would go against Renzi.
Renzi will have met with his ministers and grandees in the PD, before taking stock tomorrow afternoon (7 December); even the wing of the party led by Dario Franceschini, former national secretary of the group, has urged caution.