The latest apocalypse du jour, following in the footsteps of Brexit and the Donald Trump election, is Italy’s Constitutional referendum that takes place this weekend.
Global financial media is in a panic about this, suggesting that a “NO” vote will lead to total chaos in Europe.
It's no secret that this year has been a volatile one for the markets. The S&P 500 is down 18% year to date, while the Nasdaq Composite is off by 27% year to date. Meanwhile, the VIX, a key measure of volatility, is up 49% year to date at 24.72. However, it has spiked as Read More
The referendum itself isn’t particularly revolutionary; Italians are voting whether or not to change the Constitution and reform their government.
Right now Italy’s legislative system is fairly inefficient.
Like the US, new laws require approval from both the Chamber of Deputies (Italy’s v