Italy's Parliament Backs Constitutional Reform

Lawmakers in Italy have signed off on a constitutional reform program intended to stabilize the country's volatile system of government, which has historically been marked by high rates of turnover and consequent economic problems.

The reform initiative, spearheaded by Prime Minister Matteo Renzi, will drastically reduce the powers of the country's senate, granting relatively stronger authority to the lower house, Reuters reports.

Renzi said that it was a "historic moment" for Italy.