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Italy referendum: PM Matteo Renzi suffers heavy defeat, exit polls suggest
Topic Started: 5 Dec 2016, 10:15 AM (1,496 Views)
Simon_S
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PM Matteo Renzi suffers heavy defeat, exit polls suggest

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Italian Prime Minister Matteo Renzi has suffered a heavy defeat in a referendum over his plan to reform the constitution, exit polls suggest.
An exit poll for state broadcaster RAI suggests 42-46% voted to back reform, compared with 54-58% voting No.
The first projection based on the vote count points to an even wider defeat: Yes at 39-43% and No at 57-61%.
Mr Renzi, who has said he would resign if he lost the vote, is due to make a statement at midnight (23:00 GMT).
The referendum was regarded as a barometer of anti-establishment sentiment in Europe.
The vote asked about plans to streamline parliament but it was widely seen as a chance to register discontent with the prime minister.
Populist parties supported a No vote.
The euro fell against the dollar immediately after the exit polls came out.
There have been growing concerns over financial stability in the eurozone's third largest economy, if Mr Renzi falls from power, as now seems likely.


Looks like the EU is in Trouble.......

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newjez
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So, a German, French and now Italian election in 2017?

Well, at least we will know.

Any one of them could kill the euro.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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zaph
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newjez
5 Dec 2016, 01:15 PM
So, a German, French and now Italian election in 2017?

Well, at least we will know.

Any one of them could kill the euro.
The Euro is a dead woman walking.
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newjez
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zaph
5 Dec 2016, 03:26 PM
The Euro is a dead woman walking.
Europe would work well without the euro. If it survives it's demise. Don't know why they can't see it is causing most of their problems. It's like a cancer they are clinging to.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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Simon_S
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newjez
5 Dec 2016, 04:42 PM
Europe would work well without the euro. If it survives it's demise. Don't know why they can't see it is causing most of their problems. It's like a cancer they are clinging to.
The Fun is Just beginning in Europe.

Lets what happens to the Italian banking sector after this.

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zaph
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newjez
5 Dec 2016, 04:42 PM
Europe would work well without the euro. If it survives it's demise. Don't know why they can't see it is causing most of their problems. It's like a cancer they are clinging to.
I don't know how 18+ countries thought it was a good idea in the first place. After the first two weeks of an economics course at uni one would conclude it was a very bad idea.
Edited by zaph, 5 Dec 2016, 06:50 PM.
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deluded
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newjez
5 Dec 2016, 04:42 PM
Europe would work well without the euro. If it survives it's demise. Don't know why they can't see it is causing most of their problems. It's like a cancer they are clinging to.
Well if you're a company that produces placebos (e.g. chemo) aimed at treating cancer, wouldn't you want your customers to keep engaging in the lifestyle choices that cause the cancer to grow?

Obviously someone is benefitting from the cancer.
Real Trump News -- Real Climate Science News -- Real Democrat Party News
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Jon Snow
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zaph
5 Dec 2016, 06:49 PM
I don't know how 18+ countries thought it was a good idea in the first place. After the first two weeks of an economics course at uni one would conclude it was a very bad idea.

I don't think there is any mystery.

Germany thought that a currency union would eventually become a fiscal union, and as the union's largest creditor, Germany would become the principal controller of Europe's finances. Something Germany already tried before the start of WWII.

The other 17+ nations thought it would be a good idea to borrow money from the Germans and buy their nice cars, until Germany realised that they would NEVER agree to fiscal union. Admittedly, it doesn't appear they thought much further than that.

The two key architects of the Euro, Jacques Delors and Otmar Issing, are respectively, French and German. Both of them thought that fiscal union would be an eventuality.
Speak when you are angry and you will make the best speech you will ever regret.
Ambrose Bierce
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Rufus
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t will be a very good thing if the Euro fell apart and nations reverted to using their own currency.
Not so good for Germany, but great for most other EU nations.
Take risks - if you win you will become wealthy, if you lose you will become wise
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Mallard
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Thread killer

Italy has had 40 prime ministers in 60 years. This is normal.
Collecting desperation.
Ex-Bp Golly April 2 2015. "I see with a slight overshoot -70% [fall in Sydney house prices] as being well within possibility"
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