• Italians set to vote in referendum that may spark crises in Europe

    Italians set to vote in referendum that may spark crises in Europe

    Italians are set to cast their vote in a historic referendum on which the exact details of the question they are voting on are quite technical – whether or not to accept constitutional reforms promoted by the centre-left prime minister, Matteo Renzi.

    But the outcome could have significant political and economic consequences – not just for Italy, but for financial markets and the future of the euro.

    Renzi has staked his legitimacy on the vote and declared he will resign if the […]

  • Brexit to spark UK slowdown, blow hole in public purse

    Brexit to spark UK slowdown, blow hole in public purse

    Brexit will spark an economic slowdown and ravage public finances, forcing a multi-billion-pound spike in state borrowing over the next five years, a gloomy mini-budget revealed Wednesday.

    Britain is predicted to borrow an extra £122 billion ($152 billion, 143 billion euros) in the period to 2021, according to official forecasts from the Office for Budget Responsibility.

    About half of that budget black hole — or £58.7 billion — is a direct consequence of Britain’s decision to leave the European Union, according to […]