Monday, December 05, 2016 5:20:40 AM
Euro Falls After Italy Says No to Changes Seen as Vital for Growth
A foreign exchange trading company in Tokyo on Monday. The Nikkei 225 Index in Japan fell 0.9 percent after Italy’s vote.
DEC. 5, 2016
FRANKFURT — The euro fell against the dollar and bonds across the Continent fell on Monday, after Italian voters rejected changes to their country’s Constitution [ http://www.nytimes.com/2016/12/04/world/europe/italy-matteo-renzi-referendum.html ] intended to speed government decision making and spur Italy’s stagnant economy.
The vote, and the political and financial turmoil it is likely to provoke, raised fears that Italy would be unable to muster the growth needed to deal with crushing government debt and a shaky banking system. The vote was another sign of popular resistance across Europe to changes that economists say are needed for the 19-country eurozone to overcome problems that have threatened its existence.
The political uncertainty caused by a “no” vote will postpone plans to rebuild the Italian banking system and to help banks deal with problem loans, which account for nearly a fifth of total debt and are a serious drag on the economy.
Though market interest rates, or yields, on government bonds also rose across Europe — indicating that investors now consider the region to be a riskier place to put their money — the increase was highest in Italy, a sign of the heightened uncertainty over the country’s prospects.
[...]
http://www.nytimes.com/2016/12/05/business/italy-referendum-euro-markets.html
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in addition to (linked in) the post to which this is a reply and preceding and (other) following, see also (linked in) http://investorshub.advfn.com/boards/read_msg.aspx?message_id=126997323 and preceding and (future) following
A foreign exchange trading company in Tokyo on Monday. The Nikkei 225 Index in Japan fell 0.9 percent after Italy’s vote.
DEC. 5, 2016
FRANKFURT — The euro fell against the dollar and bonds across the Continent fell on Monday, after Italian voters rejected changes to their country’s Constitution [ http://www.nytimes.com/2016/12/04/world/europe/italy-matteo-renzi-referendum.html ] intended to speed government decision making and spur Italy’s stagnant economy.
The vote, and the political and financial turmoil it is likely to provoke, raised fears that Italy would be unable to muster the growth needed to deal with crushing government debt and a shaky banking system. The vote was another sign of popular resistance across Europe to changes that economists say are needed for the 19-country eurozone to overcome problems that have threatened its existence.
The political uncertainty caused by a “no” vote will postpone plans to rebuild the Italian banking system and to help banks deal with problem loans, which account for nearly a fifth of total debt and are a serious drag on the economy.
Though market interest rates, or yields, on government bonds also rose across Europe — indicating that investors now consider the region to be a riskier place to put their money — the increase was highest in Italy, a sign of the heightened uncertainty over the country’s prospects.
[...]
http://www.nytimes.com/2016/12/05/business/italy-referendum-euro-markets.html
---
in addition to (linked in) the post to which this is a reply and preceding and (other) following, see also (linked in) http://investorshub.advfn.com/boards/read_msg.aspx?message_id=126997323 and preceding and (future) following
Greensburg, KS - 5/4/07
"Eternal vigilance is the price of Liberty."
from John Philpot Curran, Speech
upon the Right of Election, 1790
F6
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