And this is precisely what I wish to talk briefly about today. 2 Assessment of the Italian referendum In this context, this must, of course, include an initial, provisional assessment of the implications of the Italian referendum. As you know, a majority of Italian voters rejected constitutional reform in yesterday’s referendum.
(Of course, I refer here to an “internal” stress-testing programme which is designed and executed by the institution itself, rather than the “external” stress-tests carried out by regulators such as the European Banking Authority.)