Mr. Renzi tried and failed to inject public funds into Monte dei Paschi, the perpetual locus of fears about an Italian-bred financial conflagration. Mr. Renzi instead forged a plan that has Monte dei Paschi scrambling to secure €5 billion from private investors. Mr. Renzi pursued reforms aimed at spurring companies to invest. Voters clearly did not trust Mr. Renzi to wield greater power. Now, Mr. Renzi is gone, along with his reform trajectory.

Source: New York Times December 05, 2016 18:03 UTC