Sunday, November 27, 2016

Italy Facing A Banking Crisis If A Referendum Vote On Constitutional Reform Fails (As Expected)

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Reuters: Renzi faces pressure to stay in office as Italy referendum defeat looms

When a handful of European leaders met Barack Obama in Berlin this month to say their goodbyes, Italian Prime Minister Matteo Renzi informed the group that he may well lose power before the U.S. president.

While Obama leaves office on Jan. 20, Renzi has promised to resign if he does not win a Dec. 4 referendum on constitutional reform, opening the way for renewed political instability in the eurozone's third largest economy.

"I have no desire to hang around if I lose," Renzi told the gathering, according to a diplomatic source who was at the low-key Nov. 18 meeting.

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WNU Editor: First Brexit. Trump 3 weeks ago. And now this referendum in Italy where NO supporters are ahead by 11%. Change is clearly in the air. As for this referendum .... in a worse case scenario this will be the 2008 financial crisis all over again.

More News On An Italian NO Vote On Constitutional Reform And The Possibility Of A Banking Crisis Being The Response

Fears mount of multiple bank failures if Renzi loses referendum -- Financial Times
This is what Europe's biggest bank expects from Italy's crucial referendum -- Business Insider
Italy is poised to become next country to reject the establishment as shock poll finds referendum protest vote is poised to beat the government -- Daily Mail
Is Italy about to feel the Trump effect with Prime Minister Matteo Renzi’s referendum? -- The Independent -- The Guardian
Why is Italy having a referendum and is it significant? -- The Telegraph
Could UK's Italians rock referendum vote? -- BBC

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