On Sunday, economic changes sparked across European markets, something seen as a great blessing to Bitcoin. It is likely to be a good week ahead for the Bitcoin community. However, it is clear that the fluctuation in the strong EU economies will mean either a stronger or a weaker Bitcoin following the conceding of Italian PM.
Currently, there are mixed reactions among EU members, some supporting the move to strengthen the Bitcoin as the year draws its end and other is of a different opinion. This is even as Italians and Austrian voters pressed for the necessary changes to be put in place in order to see that the Bitcoin closes 2016 on a higher note.
Italian Prime Minister who for a long time is known to be a pro-EU supporter was made to accept defeat to the no’ referendum. Matteo Renzi has been seen as a strong man, was forced to accept that the majority of his people are anti-EU.
Nearly 60 minutes after the referendum, Mr. Renzi saw the reality of the matter and went ahead to issue a public statement.
Exiting Euro On An Agenda
After the referendum, Beppe Grillo, who is also the head of Five Star Movement, a populist group in Italy, wrote on his website that it is high time to conduct elections. In fact, Grillo said that changes would only be effected if elections were elected fast.
If that is done, Beppe said, “It will make my party a popular faction among all those in Italy. This will help me capitalize on people’s views thus a success story.”
Mr. Grillo went ahead to say, “Italians need 5 days. This will enable them to start to work on the amendments tomorrow, which will allow us have a fresh electoral law in less than a week. We need to head for elections the fastest we can. That is even as political parties do whatever within their reach to prolong the election.”
The referendum, which was perceived by many as a vote conducted to either remain or exit EU, is likely to bring on board Eurosceptic Five-Star Movement popularly known as MS5. The group, which talks tough against EU, would soon gain power following the defeat of Mr. Renzi.
If the party seizes power, it has promised to lobby for a fresh referendum aimed at ousting the Euro and instead, reinstate the Lira.
French’s Exit From EU Is An Option
UK’s example that saw it exit from the EU will soon be a model to France if presidential aspirant Marine Le Pen takes office. This is likely to be followed by Italy who, according to IMF, is the fourth among European economies that helps the union’s GDP to reach 16.5 trillion Euros in 2016.
Since the banking crisis that is popularly known as Cypriot Crisis in 2013, Bitcoin has been used worldwide. Those who have used it, refer is as safe haven’. The future of Bitcoin is even brighter as the Euro fails in GB, Greece, and India.