Courtesy of Mish.
Italian prime minster Matteo Renzi went down in flames in a crushing defeat of a referendum he sponsored.
Sergio Mattarella, Italy’s president, has a choice. President is largely a symbolic position but what happens next is up to Mattarella.
The president may ask Renzi to hang on in a caretaker role, there could be snap elections, there could be a fourth technocrat government. Renzi was the third consecutive appointed technocrat prime minister.
Extraordinarily Clear
The Telegraph reports Matteo Renzi concedes defeat in Italian referendum and steps down as prime minister
“My experience of government finishes here,” Mr Renzi told a press conference after the No campaign won what he described as an “extraordinarily clear” victory in the referendum on which he had staked his future.
Marine le Pen Tweet
Les Italiens ont désavoué l’UE et Renzi. Il faut écouter cette soif de liberté des nations et de protection !MLP #referendumcostituzionale
— Marine Le Pen (@MLP_officiel) December 4, 2016
Translation: “The Italians have disowned the EU and Renzi. Listen to this thirst for freedom of nations and protection!”
