Are Markets Assuming Renzi Will Lose Reform Vote?

Bloomberg Video

Nov.28 -- Rising concerns about risks to Italian lenders’ financial stability from the upcoming referendum brought an end to a three-week rally in European shares. UniCredit SpA and Banca Monte dei Paschi di Siena SpA declined more than 3.8 percent after the Financial Times reported that as many as eight Italian banks risk failing if Prime Minister Matteo Renzi loses the vote on constitutional reform this weekend. That sent the FTSE MIB Index down 1.5 percent, one of the worst performers in western-European markets. Amber Capital Chief Executive Officer Joseph Oughourlian discusses risks connected to the referendum with Francine Lacqua on "Bloomberg Surveillance." (Corrects guest's title.)