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Will Italy’s political drama spawn a new eurozone crisis?
– canadianbusiness.com
LONDON – Italy is facing political upheaval after Premier Matteo Renzi said he’s resigning after a crushing defeat in a nationwide referendum. Investors, though used to political drama in Rome, are trying to gauge the impact on the country’s economy and the wider eurozone.
Some close observers think there’s a chance the financial crisis in the 19-country eurozone could flare up again following a period of relative calm and that Italy could even end up ditching the euro.
One economic consultancy, the London-based Centre for Economics and Business Research, thinks the chances of Italy still using the euro in five years’ time have fallen below 30 per cent following the rejection of Renzi’s constitutional reform plan in a referendum Sunday.
Others see the turmoil as business as usual for a country where political instability is the norm. At worst, they say, Italy’s shaky banks could need some extra rescue money.
Here are some questions being posed over the implications of Italy’s political drama…
Some close observers think there’s a chance the financial crisis in the 19-country eurozone could flare up again following a period of relative calm and that Italy could even end up ditching the euro.
One economic consultancy, the London-based Centre for Economics and Business Research, thinks the chances of Italy still using the euro in five years’ time have fallen below 30 per cent following the rejection of Renzi’s constitutional reform plan in a referendum Sunday.
Others see the turmoil as business as usual for a country where political instability is the norm. At worst, they say, Italy’s shaky banks could need some extra rescue money.
Here are some questions being posed over the implications of Italy’s political drama…
