House of Savoy to decide between retaining the monarchy or becoming a republic. On 9 May 1946, in a last-ditch attempt to save the monarchy, Victor Emmanuel formally abdicated in favour of his son, who became Umberto II. It did not work; the Italian constitutional referendum, 1946 was won by republicans with 54% of the vote. Victor Emmanuel went into exile in Egypt, dying there a year later. On 12 June 1946, the Kingdom of Italy formally came to an end as Umberto transferred his powers to Prime Minister Alcide de Gasperi and called for the Italian people to support the new republic.
Mervyn King, Baron King of Lothbury in their final report. According to George Osborne, Gus O'Donnell made an offer to have King brief the Tories and Lib Dems during the Coalition's formative talks; however, the parties suspected they "knew what he was going to say and . . . also thought it was more appropriate for our Treasury spokesmen to talk to him". King was criticised again in May 2012 on BBC Radio 4's Today programme, on the day before an election, after he expressed approval of Coalition austerity measures. In a speech to the European Parliament in Brussels in May 2011, King commented that the