What countries will hold referenda on leaving the EU?
Short Answer
1. Market Behavior & Drivers
- EU exit parties in Italy and France currently have minimal support.
- The United Kingdom and France have established paths for referendums.
- Previous sovereign debt crises negatively correlated with EU support in Greece.
- New French anti-EU movements lack clear funding or mobilization data.
Who Wins and Why
| Outcome | Market | Model | Why |
|---|---|---|---|
| Hungary | 3.0% | 1.2% | Mi Hazánk Mozgalom, a Hungarian political party with 7% polling and 6 seats, officially advocates for an EU exit referendum, which provides a specific political actor supporting the market outcome, despite their minority status. |
| Greece | 4.0% | 0.9% | The provided background research found no information regarding political parties in Greece with an EU exit referendum in their platform, strongly indicating a probability much lower than the 1.4% debiased anchor, though the market's low price acknowledges a minor possibility. |
| France | 1.6% | 0.3% | Les Patriotes advocates for a Frexit referendum, which is the strongest reason for the market being correct, but its consistent polling below the 5% threshold with 0 projected seats makes it overwhelmingly unlikely France will hold one, suggesting the probability is significantly lower than the 0.5% debiased anchor. |
| Italy | 2.0% | 0.7% | The Italexit party explicitly advocates for an EU exit referendum in Italy; however, its extremely low polling at 2.1% and 0 projected seats indicates it lacks the political power to initiate such a referendum, largely validating the market's very low probability. |
2. Price Chart
Historical Price (Probability)
3. Market Data
Contract Snapshot
The market resolves to "Yes" if Greece holds a national referendum on leaving the European Union before January 1, 2030. If this event does not occur by that date, the market resolves to "No" and closes by January 1, 2030, at 10:00 am EST. The market may close early upon the event's occurrence, with resolution based on information from specified news sources including The New York Times, Associated Press, and Reuters.
Available Contracts
Market options and current pricing
| Outcome bucket | Yes (price) | No (price) | Last trade probability |
|---|---|---|---|
| Greece | $0.05 | $0.96 | 4% |
| Hungary | $0.04 | $0.97 | 3% |
| Italy | $0.04 | $0.98 | 2% |
| France | $0.07 | $0.98 | 2% |
Market Discussion
Limited public discussion available for this market.
4. Trust Index
Primary risk· Trade quality
Market integrity is low (50), but Integrity averages all three scores, so the other two pull it up. Only a critically low score would cap the total.
Includes the cost to trade: a $10,000 order loses about 196% of the price to slippage.
Weighted blend with hard caps — a critically weak safety pillar, or a severe trading anomaly, caps the total regardless of the rest. Full methodology · About the Trust Index
5. Which Political Parties Advocate for EU Exit Referendums in Europe?
| Italexit Party Stance and Polling | Advocates EU withdrawal; 2.1% polling (February 23, 2026, Ixè) [1], [2] |
|---|---|
| Les Patriotes Stance and Polling | Calls for Frexit; consistently polls below 5% threshold [3], [4] |
| Mi Hazánk Mozgalom Stance and Representation | Proposes EU membership referendum; 7% polling (January 2026); holds 6 seats [5], [6] |
Sources (9)
- 1Italexit (political party)en.wikipedia.org
- 2Italy Election Poll: Latest Survey by Ixè (February 23, 2026)politpro.eu
- 3Charte des Patriotes – Les Patriotesles-patriotes.fr
- 4The Patriots’ platform and policiesfrance.vota.com
- 5Our Homeland Movementen.wikipedia.org
- 6Mi Hazánk: Latest Polls, Platform & Voter Analysispolitpro.eu
- 7Italexitit.wikipedia.org
- 8Italexit: Latest Polls, Platform & Voter Analysispolitpro.eu
- 9Frexit Without Exit: How Anti-EU Movements Shape French Politics Without Winning Power - Robert Lansing Institutelansinginstitute.org
6. How Do UK, France, Germany Legally Authorize Treaty Referendums?
| UK Referendum Mechanism | Requires an Act of Parliament (simple majority) [1] |
|---|---|
| France Referendum Mechanism | Presidential decision under Article 11 of the Constitution [2] |
| Germany Referendum Mechanism | Not constitutionally provided; likely requires amendment [3] |
7. How did sovereign debt crises impact EU membership support?
| Greece Bond Spread Peak | Over 1,000 bps (April 2010 [1]) |
|---|---|
| Greece EU Support Decline | From 55% (2010) to 27% (May 2012 [2]) |
| Italy EU Support Decline | From 85% (2007) to 46% (2012 [2]) |
Sources (5)
- 1Greek/German bond yield spread more than 1,000 bps | Reutersreuters.com
- 2European Unity on the Rocks | Pew Research Centerpewresearch.org
- 3Greek/German 10yr debt yield spread widens above 300 bps | Reutersreuters.com
- 4Greek-German Spread at 800 Basis Points First Time Since June - Bloombergbloomberg.com
- 5Explainer: Why Italy's bond spread over Germany has dropped below 100 basis points | Reutersreuters.com
8. What is the Electoral Impact of New Anti-EU Movements in Europe?
| Génération Frexit Founding Year | 2022 [1] |
|---|---|
| Italexit 2022 Chamber of Deputies Vote | 1.9% [2] |
| UPR 2019 European Elections Vote | 1.17% [3] |
Sources (5)
- 1Génération Frexit (parti politique) — Encyclopédie Wikimonde Plusplus.wikimonde.com
- 2Italexit (political party)grokipedia.com
- 3Popular Republican Union (2007)en.wikipedia.org
- 4French Futureen.wikipedia.org
- 5Frexit Without Exit: How Anti-EU Movements Shape French Politics Without Winning Power - Robert Lansing Institutelansinginstitute.org
9. Which Upcoming Elections Could Trigger EU Referendum Pledges?
| Hungary Parliamentary Election | April 12, 2026 [1], [2] |
|---|---|
| France Presidential Election | April 2027 [3] |
| Most Likely EU Referendum Catalyst | 2027 French presidential election [3] |
Sources (9)
- 1Telex: Hungary's 2026 parliamentary elections set for 12 Apriltelex.hu
- 22026 Hungarian parliamentary electionen.wikipedia.org
- 32027 French presidential electionen.wikipedia.org
- 4Next French legislative electionen.wikipedia.org
- 5Next Italian general electionen.wikipedia.org
- 6Next Greek parliamentary electionen.wikipedia.org
- 7Marine Le Pen pledges Frexit referendum if elected France presidenttimesofmalta.com
- 8Tisza Partyen.wikipedia.org
- 9Péter Magyaren.wikipedia.org