Italians are voting in a constitutional referendum on which reformist Prime Minister Matteo Renzi has staked his future.
Whatever the outcome of a vote being anxiously watched in capitals across Europe and carefully scrutinised on trading floors around the world, it will lead to change.
If the centre-left Renzi's proposals to streamline a 68-year-old parliamentary system are voted down, he has vowed to resign.
That would usher in a period of political uncertainty and potential economic turmoil for the country and its European Union allies.
The most apocalyptic scenarios involve a crisis of investor confidence causing the failure of a rescue scheme for Italy's most indebted banks, triggering a broader crisis across the eurozone.
But markets last week, while jittery, appeared to have discounted that risk.
[rte.ie]
4/12/16
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Related:
Whatever the outcome of a vote being anxiously watched in capitals across Europe and carefully scrutinised on trading floors around the world, it will lead to change.
If the centre-left Renzi's proposals to streamline a 68-year-old parliamentary system are voted down, he has vowed to resign.
That would usher in a period of political uncertainty and potential economic turmoil for the country and its European Union allies.
The most apocalyptic scenarios involve a crisis of investor confidence causing the failure of a rescue scheme for Italy's most indebted banks, triggering a broader crisis across the eurozone.
But markets last week, while jittery, appeared to have discounted that risk.
[rte.ie]
4/12/16
-
Related:
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- Italy Will Face New Reality After Referendum on Constitutional Reform - PM Renzi
- Italian Banks May Face Collapse if Renzi Loses Referendum
- Juncker met en garde contre une victoire du « non » en Italie
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