Italian referendum: Too many no's, Renzi goes - HSBC
|Fabio Balboni, European Economist at HSBC, notes that after a strong rejection of constitutional reform in the Italian referendum, Prime Minister Matteo Renzi resigned.
Key Quotes
“We still believe that there won’t be a snap election, as we do not think that the president will send the country to new elections before parliament has approved a new electoral law for the upper house of parliament. However, the strong rejection could open a new period of political instability in Italy, and the Eurozone, causing a negative market reaction and possible concerns about the future of the single currency.”
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