It is often said that the British Establishment, at the height of its imperial power, would plan for decades and centuries into the future, such was its confidence and control over its own destiny. In contrast, it has been noticeable in recent years how short-sighted the British ruling class has become - looking for short-term profits through financial alchemy and quick political fixes via risky referenda.

“A red-white-red signal of hope and positive change; a red-white-red signal today goes from Austria to all the capitals of the European Union.”

Renzi lost and has resigned. The result of the recent constitutional referendum is without precedent: almost twenty million NO votes buried the constitutional counter-reforms, and the Renzi government with them.

The results of the Italian Constitutional referendum and the sudden announcement of prime minister Renzi’s resignation are sending shockwaves throughout Europe. A victory for the No vote was expected, but the scale of the defeat for Renzi, with almost 60 percent supporting No, goes far beyond what had been anticipated by all exit polls.

Following the resignation of Nigel Farage – and his successor, Diane James, after only 18 days – Paul Nuttall, UKIP MEP and former deputy leader for the party, was yesterday announced to be the newly elected UKIP leader, winning the leadership contest with over 62% of the votes from party members. But does the future hold in store for Nuttall and this far-right, racist party?

When Boris Johnson, the pro-Leave Tory foreign secretary, recently promised to “make a titanic success” of Brexit, it is unlikely that he realised at the time just how apt his choice of words was. With the Office of Budgetary Responsibility (OBR), as part of yesterday’s Autumn Statement, predicting slower growth and a £122bn hole in the government’s finances as a result of Britain’s forthcoming departure from the EU, it is clear that the UK economy is heading for an iceberg.

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