QE plans thrown up in the air with Renzi’s defeat

QE strategy: According to a Bloomberg survey, Draghi is expected to announce an extention of asset purchases on Thursday. – AFP

FRANKFURT: Matteo Renzi might not be the only person this week to have his plans thrown up in the air by the Italian electorate.

His countryman Mario Draghi, president of the European Central Bank, will now have to take into account the scale of Renzi’s defeat in Sunday’s constitutional referendum – and resignation as prime minister – as the ECB evaluates its quantitative-easing programme.