Fallout from Italy's referendum will be both financial and political

If the Italian PM loses the vote and quits, it would make it harder to fix a banking crisis that should have been tackled decades agoThe eurozone crisis never went away; it was just overlooked in the Brexit upheaval. But you can rely on Italy to trigger thoughts of catastrophe and, sure enough, the arrival of this weekend’s referendum on constitutional reform has spooked markets. The yield on 10-year Italian debt has doubled from 1% to 2% since August, outpacing the rise in yields on most