Italy court blocks referendum to scrap Renzi's labour reform

Italy court blocks referendum to scrap Renzi's labour reform
11-Jan-2017 11:17 YAHOO

By Isla Binnie and Francesca Piscioneri ROME (Reuters) - Italy's Constitutional Court on Wednesday rejected a bid by the country's biggest trade union to force a referendum on former prime minister Matteo Renzi's law making it easier to fire workers. The ruling is likely to prove a relief for new Prime Minister Paolo Gentiloni, who has pledged to build on his predecessor's reforms, and it also spares Renzi the humiliation of having his two flagship projects thrown out in referendums. Italy's bond yields fell, while the euro and Italian stocks rose after the ruling.