Matteo Renzi

Italian Prime Minister Matteo Renzi has conceded defeat in a referendum organized on Sunday, and announced his resignation.

During a press conference in Rome, he said he would on Monday call a meeting of his cabinet, and later submit his resignation to the Italian president.

Italian Prime Minister Matteo Renzi announced his resignation on Dec. 5, hours after it was confirmed he had suffered a crushing defeat in a referendum on constitutional reform that has sparked fresh jitters about the fate of a united Europe.

Italian Prime Minister Matteo Renzi announced his resignation on Dec. 5, hours after it was confirmed he had suffered a crushing defeat in a referendum on constitutional reform.

Italian Prime Minister Matteo Renzi has resigned after suffering a heavy defeat in a referendum over his plan to reform the constitution.
In a late-night news conference, he said he took responsibility for the outcome, and said the No camp must now make clear proposals.
With most ballots counted, the No vote leads with 60% against 40% for Yes.

Italian Prime Minister Matteo Renzi resigned early on Monday after a severe blow delivered by the results of a referendum on constitutional changes.

The "No" vote leads with 60%, while 40% voted "Yes". Renzi had vowed to step down in case of a majority of "No" votes.

When I was writing this article, the outcome of Sunday's referendum in Italy was still not known. And we could not know whether Italian Prime Minister Matteo Renzi has stood by his word to resign in the event that his proposed EU-backed reforms in the country's political institutions are rejected. 

A constitutional referendum is being held in Italy. It started at 7 am local time and will continue until 11 pm.

Voting activity until 12 pm local time was 20.10%. The record was set in Bologna - nearly 27%.

The outcome of Austria’s presidential elections today will serve as a new gauge of the populist wave sweeping Western democracies, as a divided country’s decision at the voting booths could deliver the first freely elected far-right head of state in Europe since World War II.

Italian citizens vote on constitutional reform today in what some analysts see as the most significant political event of the year – even bigger than Brexit.

Italians will vote on Sunday on key political issues in a referendum that could cause economic turmoil, reported Focus agency.

Prime Minister Matteo Renzi announced that he will resign if he loses.

According to economists, the negative vote could lead to the bankruptcy of already weakened banks and consequences will be felt all over Europe.