Italian regions vote for autonomy
While the the Catalonia secession crisis continues in Spain, centrifugal forces in Italy are gaining momentum.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
You are now subscribed
Your newsletter sign-up was successful
Want to add more newsletters?
Twice daily
MoneyWeek
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
Four times a week
Look After My Bills
Sign up to our free money-saving newsletter, filled with the latest news and expert advice to help you find the best tips and deals for managing your bills. Start saving today!
While the the Catalonia secession crisis continues in Spain, centrifugal forces in Italy are gaining momentum, says Rachel Sanderson in the FT. In two referendums last Sunday, over 90% of voters in the northern regions of Veneto and Lombardy, which account for about a third of Italy's gross domestic product, voted in favour of more autonomy and the chance to keep a bigger percentage of their tax revenues.
The two regional governments will now begin negotiations with Rome. Like Catalonia, the two regions are "major economic engines", says Lisa Jucca on Breakingviews. They jointly comprise 30% of Italy's GDP.
They have long insisted that the money they pay the central government is unreasonable compared with what they get back. Lombardy says its shortfall is €54bn a year; for Veneto it is €15.4bn. Lombardy notes that Sicily, the country's poorest region, receives €10.6bn more than it pays Rome.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
However, there are key differences between the votes in Spain and Italy, argues The Economist. While both reflect "the impatience of rich northerners with poor southerners, whom they consider idle, corrupt and spendthrift", the two Italian votes "were indisputably legal", as they had been endorsed by the Constitutional Court two years ago. What's more, neither Lombardy nor Veneto "proposes independence".
Indeed, "the most cynical view" is that the Northern League pushed the plebiscites to raise its profile ahead of next year's election, and is more concerned with building a countrywide populist movement.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.

-
UK interest rates live: experts expect MPC to hold ratesThe Bank of England’s Monetary Policy Committee (MPC) meets today to decide UK interest rates. The last meeting resulted in a cut, but experts think there is little chance of interest rates falling today.
-
MoneyWeek Talks: The funds to choose in 2026Podcast Fidelity's Tom Stevenson reveals his top three funds for 2026 for your ISA or self-invested personal pension