Italian referendum vote result
Italian voters have rejected Prime Minister Matteo Renzi’s proposals by 59.1% in the referendum which took place on Sunday 4 December 2016. Having linked his political future to the result, Renzi has now confirmed he will hand in his resignation, following the steps of his peer in the UK after the Brexit referendum.
Period of uncertainty?
While Renzi’s government has been the most stable in decades, his resignation may bring political instability back to Italy at a time when the economy is starting to pick up. The long shadow of the country’s undercapitalised banks could cause a financial crisis, embroiling the third largest eurozone member and potentially spilling over to the wider 19-country currency union.
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