Euro skids as Italy votes 'No' on reform, dollar in demand

Reuters ^ | Dec 4, 2016 | Wayne Cole

[I want the USA back]

Hoping Italy gets somebody who keeps the invaders out.

[Iron Munro]

Can anyone here provide a concise description of what was actually voted on?

Something a layman can understand?

[Sgt_Schultze]

The EU was something obam and the other extremists pointed at as a beacon for the US to emulate.

[Billyv]

And all the Germans were driving Mercedes then, but a new Ford Mustang was @ $2500

[tennmountainman]

Good riddance to the socialist and the EU.

[SkyPilot]

It is 1 to 1.06 now.

When it started, the Euro was worth about 80 cents. Very, very quickly, it was worth about $1.40. That was ridiculous.

[RushIsMyTeddyBear]

Good!

[ARGLOCKGUY]

Viva Italia!!!!

[ConservativeMind]

Referendums to “play nice and make good” with EU expectations from Italy (from interest on their debt to the EU and other reforms).

A future election would have likely kicked him out, anyway, so he resigned.

[LostInBayport]

One article I read suggested that the referendum would have increased Renzi’s power and comparatively decreased the power of Italy’s parliament. It would have made it easier for Renzi to make changes in Italy that favor the EU.

That was my understanding anyway.

[nwrep]

Italian PM Matteo Renzi takes swipe at Donald Trump

[aMorePerfectUnion]

I'm expecting the EU to continue on and consolidate power.

It will be in a different form, surely.

[ameribbean expat]

“the rising dollar, which will limit exports.”

And favor imports.

[OddLane]

Honestly, I think it implodes once a Eurozone country breaks away, but especially if it’s one of the 2 pillars of the EU.

[tennmountainman]

It won’t just be below the dollar, the euro will be gone. Just a matter
of time.

[KyCats]

“Yes” would have meant an almost total neutering of the Italian version of the Senate with a corresponding shift of that power to the executive.

[max americana]

when I came back to Italy, I prefer the dollar actually and that was 2 years ago. I could buy more with the dollar even with the Euro almost at par back then. Businesses in Naples wanted my dollars, believe me..

[max americana]

I remember 12 Euros for a beer in naples 2 years ago. Believe me, ALL of the cafes wanted my US dollars when they found out where I was from even when the Euro was at par. The Italians knew something back then..

[RockyTx]

something like this...

reduce the number in the Senate from 300 to 100.

Senate’s only power will be . approve or not,
(what actions are taken by the lower house)

reduce the authority of provinces,
I have no clue what that exactly means,
making the central gov more powerful

[Iron Munro]

Thanks for the explanation.