Everything You Need To Know About The Italian Referendum (& Should Be Afraid To Ask)

Update: The market was modestly spooked as Transport Minister Delrio appeared to confirm Renzi’s resignation will occur on a ‘no’ vote…
While the post-Trump euphoria in US stocks has been the perfect distraction from the ugly realities elsewhere, this weekend’s Italian Referendum could well be the biggest ‘revolt’ yet, topping Brexit and Trump. Should Italy vote “no”, as polls forecast, PM Renzi may quit, leaving the Italian bank recapitalization would then be in jeopardy and, as Bloomberg’s Mark Cranfield warns “we could be looking at a Greece-like market reaction on steroids.”
Italy’s referendum on Sunday is the biggest risk for markets going into year-end, according to a poll of Citigroup clients, and several risk indicators suggest investors’ concern is growing…

This post was published at Zero Hedge on Dec 2, 2016.