Renzi resigns, sending Europe into shock

Italian Prime Minister Matteo Renzi resigned Sunday night after suffering a heavy defeat (59.1 percent) in a referendum over his plan to reform the constitution, which he called for to strengthen the government’s ability to haul the country out of economic crisis. Rescuing Italy’s sagging banks called for European Central Banks’ intervention and a strong government in Rome at the head of Europe’s fourth economy. The victory in Italy of anti-Europe, anti-establishment factions – after the Brexit vote in Britain – bolsters the Euroskeptic candidates who will be challenging the governments in elections next year in France. Germany and the Netherlands, fellow EU founders.

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