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Philippe Waechter

Chief economist

Italian malaise

05.12.2016 - Philippe Waechter

Matteo Renzi has well and truly lost the referendum that took place on December 4. However, the markets’ reaction was not extreme.

However, the markets’ reaction was not extreme. Investors are adopting something of a wait-and-see attitude, which is reassuring in one sense as there is no major backlash following the result. But the whole affair is far from over. Matteo Renzi will present his resignation, which will very probably be accepted, and in the meantime, the current government can no longer operate effectively following yesterday’s result.  Italian president Sergio Matarella will have to consult and appoint a new prime minister to form a new government, and this could be Matteo Renzi. This whole process will take several weeks.

 

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Philippe Waechter is Head of the economic research department of Ostrum Asset Management.

Philippe joined Bred Banque Populaire in April 1988 as an economist. In 1994 he became Director of the economic research department. When Banque Populaire Asset Management was created in June 1998 (which then became Natexis Asset Management in May 2003) Philippe held the same position.

Philippe is graduated from the University of Paris I and worked as a Professor at the University of Evry from 2002 to 2003. He regularly works for the print and audiovisual media.

On Twitter

Philippe Waechter . 1h ago

Excellent choice https://t.co/E3q3s23y58 via @WSJ

Philippe Waechter . 3h ago

RT @adam_tooze: This is a number I haven’t seen before @greg_ip: the perceived risk of losing your job as reported by the least educated Am…

Philippe Waechter . 7h ago

@ssoumier Un peu audacieux d'attribuer la hausse récente à la baisse d'impôts? Depuis 1973, ce type de mouvement es… https://t.co/KeHcccyFNh

On 3 April 2018, Natixis Asset Management became Ostrum Asset Management.