Would allow for 'smoother transition'
Annual revenue growth to halve by 2021
Cutting bond purchases to €60bn a month
Fund managers have warned of short-term volatility following Italy's vote against constitutional reform in this weekend's referendum, which they say could "exert a baleful influence" on the country's struggling banking sector.
The euro fell to levels last seen in March 2015 last night as Italian Prime Minister Matteo Renzi said he would resign after suffering a worse defeat than expected in the country's referendum on constitutional reform.
Follows Draghi comments of Brexit 'pain'