Value of the euro drops to a 20 month low following resignation of Italy's PM

Value of the euro drops to a 20 month low following resignation of Italy's PM

The value of the euro has dropped to a 20-month low against the dollar after the resignation of Italy's prime minister.

At one point it hit €1.5 - its lowest level since March last year.

Matteo Renzi promised to stand down if he lost a referendum on reforming the country's constitution - which he did.

Hannah Roberts is a journalist in Rome.

She says it's a boost for populist opposition movements, which could bring the country's membership of the single currency into question: "The five star leaders have spoken tonight and refused to rule out a referendum on the euro so if they did get in that is a possibility."

More on this topic

Italy PM Renzi says he will now resign as parliament passes budget lawItaly PM Renzi says he will now resign as parliament passes budget law

Italian president ask prime minister to delay resignationItalian president ask prime minister to delay resignation

Michael Noonan: No new financial crisis after Italy referendum resultMichael Noonan: No new financial crisis after Italy referendum result

Italy faces political and economic uncertainty after Renzi's referendum defeatItaly faces political and economic uncertainty after Renzi's referendum defeat

More in this Section

UK economy suffers worst three months in decade after stagnating in OctoberUK economy suffers worst three months in decade after stagnating in October

BuzzFeed UK threatened with being dissolved over late accountsBuzzFeed UK threatened with being dissolved over late accounts

Japanese regulators recommend €19.9m fine for NissanJapanese regulators recommend €19.9m fine for Nissan

Minimum wage increase led to some workers see temporary reduction in hours Minimum wage increase led to some workers see temporary reduction in hours


Lifestyle

Ray Liotta never planned to be an actor. He only signed up for drama classes in college in a bid to dodge the more academic subjects, and didn’t make his first film until he was 30.Both sides now: Ray Liotta on his 40 year career

I am Jesus Christ! No, don’t worry, this writer’s ego isn’t quite that big. We won’t be turning water into wine. Rather, ‘I Am Jesus Christ’ is the name of a new game just announced on Steam.GameTech: The new video game 'I am Jesus Christ'

Johnny ‘Fang’ Murphy, frontman with Cork group The Stargazers, tells Ellie O’Byrne about the cultural milestones on his musical journey.Getting into the swing of things: Johnny 'Fang' Murphy on his musical journey

Clean skincare is cleaning up, but does it even mean anything in particular?The Skin Nerd: When clean does not always mean better

More From The Irish Examiner