Here's Why Italy's Looming Referendum Is So Important for Europe

The looming constitutional referendum in Italy has big implications for Europe. "If [the Italian people] reject this, this is the first step in what is a more European-wide revolt against the establishment and against the government," said James Hughes, chief market analyst at GKFX, based in London. A "yes" vote in the referendum allows the government to pass laws with fewer hurdles. TheStreet's Scott Gamm reports from Wall Street.