IT Constitution Amendment Vote

The Italian parliament on Wednesday gave its final approval to the government's 2017 budget, which has irked the European Union, paving the way for Prime Minister Matteo Renzi to hand in his resignation. Renzi said he would quit following his crushing defeat in Sunday's referendum when Italians rejected his proposed reforms to the constitution, but the head of state Sergio Mattarella told him to delay his resignation until the budget was passed. Sweeping away all amendments to speed up its parliamentary passage, the upper house ...

The idea that central banks can address a wide range of problems by opening up the monetary policy spigot is dangerous, European Central Bank Governing Council member Jens Weidmann said Monday. Speaking in Munich, Weidmann sought to downplay the outcome of Sunday's Italian referendum, while expressing concern about the implication for further reform, according to a text provided by the Bundesbank, which he heads. "The notion that central banks could counter with cheap money the causes of financial and sovereign debt crises, of ...

Italian Prime Minister Matteo Renzi told a press conference of journalists in Rome that he concedes an "extraordinary clear" referendum defeat in the Italian constitutional referendum and will resign on Monday. "Tomorrow the President of the Republic will have a meeting with me and I will hand in my resignation," Renzi said. He continued: "I take on full responsibilities for defeat and so I say I lost, not you." "I believe in the rules of the elections so it is important to have a consistent approach....when you lose you cannot ...

Italy's constitutional referendum, in which the country will vote on a series of changes to the way Italy's institutional frameworks are structured, is one of the biggest political events in Europe in 2016. In the eyes of most commentators, the result is unlikely to be as seismic a shock to the continent as the UK's Brexit vote or Donald Trump's presidential victory, but it is a nonetheless significant event. Polls opened in Italy earlier on Sunday morning, but even as voting begins, some people are still getting lots wrong about the ...

At least initially, Italy could call the shots for global markets in the week ahead, as the Trump rally begins to show signs of tiring. The dollar, bonds and stocks should continue to take their cue from any hints of policy or plans from the incoming Trump Administration, and there are a few U.S. economic reports like trade data and consumer sentiment. But the whole world is watching Italy's constitutional referendum Sunday to see if it could cause the next Brexit-like tremor for markets. "Particularly if the focus shifts to Europe, ...