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European

Editors Note: Renzi was a nice guy in a bad place. The global mood that gave us Brexit and Trump, took yet another casualty from the forces of the status quo. Political referendums may not seem like an obvious art subject, but the turmoil this signifies in Europe is bound to roil all of the markets. Short term, expect the Euro to continue its fall against the strengthening US Dollar. For all of the media invective against Donald Trump, the American economy looks to finally return to leviathan status.

As for Italy, Renzi is expected to tender his resignation tomorrow if not sooner. Merkel's insane policies continue to centrifuge the European Union apart. Perhaps the next casualty will be her.

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Italian PM Matteo Renzi has said he will resign after losing a key referendum on constitutional reform. Mr Renzi had staked his future on a "Yes" vote, vowing to quit if voters rejected his plans - which opponents denounced as dangerous for democracy - to reduce the role of the country's Senate and take back powers from regional authorities.

The result plunges the country into political turmoil, with the effects likely to be felt on the markets and across the rest of Europe. "The experience of my government ends here," Mr Renzi said in a televised address to the nation.

To read more:

http://news.sky.com/story/italian-pm-matteo-renzi-to-resign-in-wake-of-referendum-defeat-10683879

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