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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 . 19h ago

Cela pourrait éventuellement aller plus loin mais c'est un changement qui montre une certaine normalisation de l'éc… https://t.co/pK3sVxquV6

Philippe Waechter . 19h ago

Le poids du commerce extérieur est toujours important en Allemagne mais l'économie d'outre-Rhin se normalise avec u… https://t.co/QlLbpzjp8o

Philippe Waechter . 19h ago

. Jusqu'en 2015, la contribution des demandes interne privée et externe étaient du même ordre. Ce n'est plus le cas… https://t.co/rzeLwtK6h6

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