Business

This is what Europe's biggest bank expects from Italy's crucial referendum

Italy is likely to retain a broking role in Brexit talks, despite uncertainty over Prime Minister Matteo Renzi. Pretty much everything. Italy has an unemployment rate of 11% and living standards have barely grown since the country became a founder member of the single currency 15 years ago.

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Referendum on December 4th Could Decide The Fate of The Euro

Needless to say , there is panic in the rickety Italian banking system where at least 8 banks could need a bailout - an impossible task with Italy carrying a debt burden of more than 130% of its GDP. Italy goes to the polls on Sunday, with results expected the following day. The younger generation of voters appears just as split. During his second year in office, he's proposing a referendum for "radical and controversial change in the government" which is known for its inefficiencies ...

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Italian Consumer Confidence Hits 16-Month Low Ahead of Referendum

When it meets just four days after the referendum, the European Central Bank could send signals to calm the markets. This has seen Renzi ramp up his attack on Brussels, which has criticised Italy for flaunting European Union budgetary rules, with Rome threatening to veto the EU's own budget on political grounds.

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European Stocks Fall on Banking Weakness as Political Risk Returns

Italy's borrowing costs rose sharply at an auction on Tuesday, reflecting political worries, but firm demand suggested some investor were hedging their "short" positions by buying the underlying bonds. Remo Casilli/ReutersWhat shape is the Italian economy in? The campaign has been long and brutal, leaving the country as divided as at any time since the constitution was originally introduced in 1948, with Renzi's own Democratic Party (PD) split by the reform and facing much soul searching ...

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Italian PM could resign if reform doesn't pass

More specifically, she much disliked that the reform would change the rules for initiative bills: the minimum number of citizens' signatures to have them debated by the parliament would in fact increase from 50,000 to 150,000. The poor economic situation is weakening Renzi's position. Unemployment is over 12%, joblessness among young people runs at 40%. No to austerity.

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Italian referendum to have modest impact

Frankfurt-based research group Sentix , surveying around 1,000 financial professionals, estimates the likelihood of an Italian exit from the euro to be 19.3 percent - higher than ever before. Nearly certainly not. There might be a relief rally and the shares of Unicredit and Banca Monte dei Paschi di Siena could bounce after recent selling, but the problems of the Italian economy and the country's banking system will remain.