Worse than for Brexit. The first reactions of the markets to theoutcome of the Italian referendum andpolitical uncertainty which opens with the defeat and with the resignation of Matteo Renzi were not long in coming: the euro plunged to a 20-month low against the dollar e for the Stock Exchanges, a very difficult Monday is shaping up which will involve not only Piazza Affari but the stock exchanges throughout Europe.
The first signs of turbulence come from Asian bags, which are mostly in red during the session.
The biggest concerns obviously concern the Stock Exchange but also the banks e Italian government bonds, though the ECB stretched out a temporary seat belt.
The fears for the Italian banks become great in the absence of a clear political guide: the spotlights are focused above all on thecapital increase of Monte dei Paschi, to which some sovereign wealth funds thought of joining but only in conditions of political and market stability. Now everything changes.
