Resign Now, Italy Tells Matteo Renzi
talian center-left Prime Minister Matteo Renzi said he will resign on Monday, after conceding an “extraordinary clear” defeat in an Italian constitutional referendum.
“Tomorrow the President of the Republic will have a meeting with me and I will hand in my resignation,” Renzi said. “I take on full responsibilities for defeat and so I say I lost, not you,” he told supporters.
The defeat of the referendum was resounding, with nearly 60% of voters saying “no” with a high turnout of nearly 70%.
The euro fell to a 20 month low against the dollar at the prospect of instability in the eurozone’s third biggest economy.
The ‘No’ campaign was spearheaded by the anti-establishment Five Star Movement party, led by Beppe Grillo, which is expected to make substantial gains if a general election is called.
“When you lose you cannot pretend that nothing has happened and go to bed and sleep. My government ends here today,” Renzi said.
