Sterling opens this morning with huge gains as Renzi resigns

Sterling has opened this morning with huge gains, as Italian Prime Minister was somewhat destroyed in his attempt to reform the political structure. PM Matteo Renzi has resigned following the result, leaving the Italian political infrastructure exposed and not helping the debt positions the country currently has. The now Ex Italian PM, had promised to stabilise the notoriously ill managed countries political structure and help boost the economy, but it looks to have back fired. Italy is seen as the 3rd largest economy in the EU after Germany & France, and a banking crisis could ensue as the EU struggles to keep all its worrying issues from surfacing. There are a number of voting scenarios due to come in 2017 for Holland, France and Germany. Italy’s shock move to vote NO further signals more potential future Brexit type outcomes.

Brexit finds itself in Supreme Court

Today in the UK, Brexit finds itself in Supreme Court, where the powers that be decide on the UKs next move. The next four days will be key for Theresa May as she still has the end of March 2017 in her sights for triggering Article 50, but the decision may be taken out of her hands. All eyes will be glued to live information regarding the decision, as the Supreme Court will need to make a decision whether the UK can go ahead with leaving the EU without Parliament consent.

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