Italian Prime Minister Matteo Renzi resigns after referendum defeat

Voters reject constitutional changes, leading to warnings of an 'Italexit' that would 'make Brexit look like a picnic'

ROME, ITALY - DECEMBER 05:Italian Prime Minister Matteo Renzi give a speech after the results of the referendum on constitutional reforms at Palazzo Chigi on December 5, 2016 in Rome, Italy.
Matteo Renzi gives a speech in Rome following the referendum
(Image credit: 2016 Getty Images)

Matteo Renzi, the Italian Prime Minister, has said he will resign after voters overwhelmingly rejected a raft of constitutional changes in Sunday's referendum.

With most ballots counted, "the No vote leads with 60 per cent against 40 per cent for Yes", the BBC reports.

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