Referenda stand as a dangerous gamble nowadays. Only the Swiss can manage them with relative ease. Populism can boast of triggering another staggering crisis in Europe as voters rejected by a wide majority the Constitutional reform tabled by the Italian PM. Opposition to his initiative also came from fellow members of the Democratic Party, such as D’Alema, and respected politicians like Monti. Conceding defeat, Mr Renzi has resigned from office throwing the country into utter disarray.
euro dollar gap
The Corner | March 11, 2015 | The euro sinked to 12-year lows on Wednesday due to the ECB’s money printing –which is pushing yields down (German 30-year government bonds are now lower than those on U.S. two-year paper), and increasing expectations of a rates hike on the other side of the Atlantic. ECB’s Governing Council member Ewald Nowotny insisted that negative bond yields in the euro area probably won’t remain for long.