Europe

What does the Italian referendum mean for real estate?

The Italian referendum’s impact on Europe’s economy has been “exaggerated” and “blown up by the market”, according to Toscafund chief economist Savvas Savouri.

Italian prime minister Matteo Renzi’s resignation following his failure to secure a majority in a referendum on constitutional reform saw the euro fall overnight to a 21-month low against the dollar of $2.10. However, this morning, the currency rallied to trade at $1.10.

Savouri said:…

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