Renzi’s Referendum Defeat Sounds Death Knell for Italian Reforms

Markets have responded calmly to Italian Prime Minister Matteo Renzi’s resignation following his decisive referendum defeat. But this result effectively sounds the death knell for reform momentum—and doesn’t augur well for Italy’s long-term prospects. Photo by DomyD, Pixbay The vote to reject Renzi’s plans to downgrade the role of Italy’s Senate (the upper house) wasn’t a…