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Bundesbank's Weidmann fears reform slowdown in Italy after vote
December 5, 2016 / 2:27 PM / a year ago

Bundesbank's Weidmann fears reform slowdown in Italy after vote

FRANKFURT (Reuters) - Italians’ rebuttal of constitutional change in a referendum over the weekend is “not the end of the world” but a slowdown in the pace of reforms in the country is to be feared, the head of Germany’s central bank said on Monday.

Central Bank (Bundesbank) Chief Jens Weidmann attends a press conference after the Franco-German Financial Council meeting in Berlin, Germany, September 23, 2016. REUTERS/Axel Schmidt

“It is to be feared that reform activity in Italy slows down again,” said Jens Weidmann, one of the European Central Bank’s rate setters who will meet later this week to decide on monetary policy.

“A ‘no’ is surely not the end of the world... but it’s now even more important that Italian policymakers send convincing signals that they will tackle economic problems at the root.”

Reporting By Francesco Canepa; Editing by Balazs Koranyi

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