The 'No' vote has won in the Italian constitutional referendum
Prime Minister Renzi speaking now:
- Clear win for 'no'
- Turnout higher than expected
- Renzi says he takes full responsibility for the defeat
- Says he intends to resign
- Will go the President tomorrow
- My government ends here
- Will convene cabinet tomorrow, hand resignation to president
You will see commentary that the president is not obliged to accept the PM's resignation. I am no Italian constitutional scholar, so I'll take that as true. Its difficult to see Renzi continuing on after this speech though.
I posted here on what happens next (re, new government or election or whatever)
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- EUR extended its fall - bounce now - thin liquidity volatility still
- Italian referendum - "No' wins. Now expecting a speech from PM Renzi.
- Reuters: 1st projection of Italy referendum ... actual count points to clear Renzi defeat
- Italian referendum - multiple calls now for PM Renzi to resign
- Italian exit polls show PM Renzi losing referendum "by clear margin"
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And, while the focus is on Italy:
- Trump on Twitter attacking China (yuan devaluation)
