Italian Referendum Rejected PM to Resign on Monday

Italian Prime Minister Matteo Renzi says he is resigning after a stinging defeat on a constitutional reforms referendum that he staked his political career on.

“Good luck to us all,” Renzi told reporters after saying he would tell a cabinet meeting Monday afternoon he is resigning. Then he will tender his resignation to the Italian president after 2 1/2 years in office.



Renzi conceded defeat after exit polls showed his proposal losing by a margin of about 60 per cent to 40 per cent in Sunday’s referendum.

Renzi said the reforms would have cut Italy’s bureaucracy and made the country more competitive. His opponents were hoping to tap into the populist sentiment that has been gaining ground in Europe and the U.S

via CBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza