Italian Prime Minister Matteo Renzi Resigns After Referendum Defeat

Posted by: Kyeyune Andrew Jonathan in World news December 5, 2016

Italian Prime Minister Matteo Renzi has resigned after suffering a heavy defeat in a referendum over his plan to reform the constitution.

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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.

The turnout was nearly 70%, in a vote that was seen as a chance to register discontent with the prime minister.

“Good luck to us all,” Mr Renzi told reporters. He said he would tell a Cabinet meeting on Monday afternoon that he was resigning, then tender his resignation to the Italian president.

Why did Matteo lose?

Matteo Renzi’s staked his political future on his attempt to change Italy’s cumbersome political system. He wanted to strengthen central government and weaken the Senate, the upper house of parliament.

His opponents – including some within his own party – had argued that the reforms would give the prime minister too much power. The electorate agreed.

But the referendum was more than a vote on constitutional reform, it was widely regarded as a chance to reject establishment politics.

It was a resounding victory for the No camp. A medley of populist parties headed by Five Star Movement. which capitalised on Mr Renzi’s declining popularity. Years of economic stagnation, and the problems caused by tens of thousands of migrants arriving in Italy from Africa.

What will happen next?

Mr Renzi will hand in his resignation to President Sergio Mattarella later on Monday. Following a final meeting with his cabinet.

The president may ask him to stay on at least until parliament has passed a budget bill due later this month.

In spite of the pressure from the opposition, early elections are thought to be unlikely.

Instead, the president may appoint a caretaker administration led by Mr Renzi’s Democratic Party, which would carry on until an election due in the spring of 2018.

Finance Minister Pier Carlo Padoan is the favourite to succeed Renzi as prime minister.

Source:bbc

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