Italy's Renzi to quit after budget

Italy's Prime Minister Matteo Renzi announces his resignation during a press conference at the Palazzo Chigi following the results of the vote for a referendum on constitutional reforms, on December 5, 2016 in RomeItalian Prime Minister Matteo Renzi formally resigned after a crushing referendum defeat that has sent shockwaves around Europe — though his departure will be delayed by a final task, passing a budget. Renzi handed his resignation to President Sergio Mattarella after Italians resoundingly rejected his constitutional reform proposals in Sunday’s referendum, to the delight of the country’s populist leaders, fresh after Brexit and Donald Trump’s US victory. The departure of the centre-left premier — who had staked his future on the outcome of the vote — plunges Italy into political uncertainty and casts a shadow over the future of the eurozone’s third-largest economy.

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