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1.Market Observations, 8.Was Sticky

6 Dec 2016 (AFR) – European Union suffers a second dose of referendum panic after Italy’s Matteo Renzi loses

(6 December 2016, AFR, p1, by James Chessell)

‘Matteo Renzi’s heavy referendum defeat confirms that anti-establishment populism is the singular disruptive force in European politics. This is the second time in six months a questionable decision by a prime minister to hold a referendum has plunged the continent into political and financial turmoil. Just like Britain’s David Cameron after the shock Brexit vote, Renzi has chosen to resign rather than clean up the mess. Sunday had begun on a hopeful note for Europe’s political mainstream with Norbert Hofer of the anti-immigration and anti-Islam Freedom Party losing out in the Austrian presidential race.’

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

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