Resignation

Italy’s Prime Minister Renzi To Resign Today

Italian Prime Minister Matteo Renzi said he would tender his resignation at 7 p.m. (1800 GMT) on Wednesday after a bruising referendum loss at the weekend, with most parliamentary factions pushing for an early election in the spring.

Renzi first vowed to step down on Monday after the referendum humiliation but was persuaded by President Sergio Mattarella, whose powers include naming prime ministers and dissolving parliament, to stay on until parliament approved the 2017 budget, which it did on Wednesday afternoon.

“Budget approved. Formal resignation at 7 p.m. Thanks to everyone and long live Italy,” Renzi said on Twitter.

The 41-year-old’s decision to quit after less than three years in office dealt a new blow to Western governments still in shock from Britain’s vote to leave the European Union and the election of outsider Donald Trump as president of the United States.