Referenda stand as a dangerous gamble nowadays. Only the Swiss can manage them with relative ease. Populism can boast of triggering another staggering crisis in Europe as voters rejected by a wide majority the Constitutional reform tabled by the Italian PM. Opposition to his initiative also came from fellow members of the Democratic Party, such as D’Alema, and respected politicians like Monti. Conceding defeat, Mr Renzi has resigned from office throwing the country into utter disarray.