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1.Market Observations, 8.Was Sticky

28 Nov 2016 (AFR) – Italy: Investors worry about looming Italian turmoil

(28 November 2016, AFR, p28, by Karen Maley)

‘Investors are on edge as Italian Prime Minister Matteo Renzi battles to stave off a humiliating defeat in a referendum on reforming the country’s constitution, which could trigger a fresh outbreak of turbulence in the eurozone.  After the shock of the Brexit vote in which UK voters opted to leave the European Union, and Donald Trump’s surprise victory in the US presidential election, investors are worried that Italian voters will be the next to deliver a stinging rebuke to establishment politicians when they go to the polls on December 4.  The constitutional reform proposes stripping the power of the Senate, or upper house, of much of its power, a move that Renzi says will simplify decision-making and result in more stable government. Opponents say it will dramatically reduce democratic checks and balances.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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