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This chart shows how a 'no' vote in the Italian referendum could cause devastation

Italy's upcoming referendum, which has been cited as one of the biggest risks to Europe in 2016 alongside Brexit, could lead to a number of devastating consequences for the country and the rest of the European Union. According to Fabio Balboni, European economist at HSBC, a "no" vote could lead to three possible scenarios, including the resignation of prime minister Matteo Renzi: Italians will go to the polls on December 4 to vote on a series of changes to the way Italy's institutional frameworks are structured.
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