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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 . 13h ago

Greece, the future remains bleak https://t.co/KbdMNnsXCR https://t.co/MZkPwpAVmH

Philippe Waechter . 14h ago

Wishful thinking at the Bank of England https://t.co/dk9nU3kTP6

Philippe Waechter . 14h ago

The graph shows the GDP deviation from trend in the UK, EA, France and Germany. The UK was not able to catch the st… https://t.co/510InQ9Opu

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