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Italy referendum: Matteo Renzi to resign after defeat as Austria rejects far right – live | Italy referendum: Matteo Renzi to resign after defeat as Austria rejects far right – live |
(35 minutes later) | |
6.06am GMT | |
06:06 | |
Italy and Austria: what we know so far | |
Claire Phipps | |
Italy | |
My experience in government ends here … I did all I could to bring this to victory. If you fight for an idea, you cannot lose. | |
Viva Trump, viva Putin, viva la Le Pen e viva la Lega! https://t.co/r8FXztp9Am | |
Austria | |
small global turning of the tide in these uncertain, not to say hysterical and even stupid times. | |
It doesn’t fill me with joy when someone meddles from outside. | |
And in completely unrelated news | |
Updated | |
at 6.09am GMT | |
5.48am GMT | |
05:48 | |
There are three options for what happens next for Italy’s government, AFP reports – one more likely than the others: | |
1: Renzi stays in power | |
Theoretically Matteo Renzi could win a vote of confidence in parliament, either with his current majority or with a new one including Silvio Berlusconi’s centre-right Forza Italia. | |
But during his press conference, Renzi seemed to exclude this possibility. “My experience of government finishes here,” he said. | |
The crushing victory for the ‘no’ camp makes the return of Renzi a very distant possibility. | |
2: Technocratic government | |
This is the most likely scenario. President Sergio Mattarella can appoint a head of government with the support of the current majority or a new enlarged majority. | |
A number of names are already circulating, including finance minister Pier Carlo Padoan and senate leader Pietro Grasso. | |
The caretaker government would be tasked with passing the 2017 budget in parliament and modifying a new electoral law before elections take place. | |
He or she could also decide to continue until the end of the current parliamentary term in February 2018. | |
3: Immediate dissolution of parliament | |
This is highly unlikely. A recent electoral reform was designed to ensure the leading party has a parliamentary majority in the chamber of deputies, while the failure of the constitutional reform of the senate means it still maintains a proportional system, making the two chambers irreconcilable and a parliamentary majority almost impossible. | |
The populist Five Star movement, whose founder and leader Beppe Grillo has called for an election “within a week”, believes the electoral law could be modified in the senate if necessary to align it more closely with that of the chamber of deputies. | |
But most other political parties, who have a majority in parliament, disagree, precisely to avoid a victory of the populist party. They are instead advocating reform of the electoral law. | |
Updated | |
at 5.50am GMT | |
5.34am GMT | 5.34am GMT |
05:34 | 05:34 |
Who is Austria's new president? | Who is Austria's new president? |
Jon Henley | Jon Henley |
Alexander Van der Bellen, the man who narrowly saw off a far-right challenge to become – albeit largely by default – the first Green head of state in western Europe, is a tall, austere 72-year-old retired economics professor who has often called himself “a child of refugees”. | Alexander Van der Bellen, the man who narrowly saw off a far-right challenge to become – albeit largely by default – the first Green head of state in western Europe, is a tall, austere 72-year-old retired economics professor who has often called himself “a child of refugees”. |
A Green MP for 18 years before leaving parliament in 2012 to become a popular Vienna city councillor, Van der Bellen ran as an independent – although his campaign, which benefited from broad support particularly on the centre-left aimed at keeping out his nationalist rival – was backed financially by the Greens. | A Green MP for 18 years before leaving parliament in 2012 to become a popular Vienna city councillor, Van der Bellen ran as an independent – although his campaign, which benefited from broad support particularly on the centre-left aimed at keeping out his nationalist rival – was backed financially by the Greens. |
Having consistently scored more highly than the party, he resigned his membership on Monday, saying the president needed to be above party politics. | Having consistently scored more highly than the party, he resigned his membership on Monday, saying the president needed to be above party politics. |
Viewed by many conservatives as too leftwing, and by more militant Greens as not radical enough, Van der Bellen spent the early part of his political career in the Social Democrats and even flirted briefly with Freemasonry. | Viewed by many conservatives as too leftwing, and by more militant Greens as not radical enough, Van der Bellen spent the early part of his political career in the Social Democrats and even flirted briefly with Freemasonry. |
A schoolmasterly, sometimes even hectoring, campaigner known as Sascha in reference to his Russian roots, he led the Greens from 1997 to 2008, turning the party into the country’s fourth biggest political force and stepping down only after elections in which it lost votes for the first time in a decade. | A schoolmasterly, sometimes even hectoring, campaigner known as Sascha in reference to his Russian roots, he led the Greens from 1997 to 2008, turning the party into the country’s fourth biggest political force and stepping down only after elections in which it lost votes for the first time in a decade. |
A heavy smoker – “I once quit for four months … but why should I torture myself at my age?” – and outspoken supporter of gay marriage, the divorced and recently remarried father of two collected more than 4,000 signatures from Austrian public figures and celebrities during his presidential campaign. | A heavy smoker – “I once quit for four months … but why should I torture myself at my age?” – and outspoken supporter of gay marriage, the divorced and recently remarried father of two collected more than 4,000 signatures from Austrian public figures and celebrities during his presidential campaign. |
Van der Bellen’s father was born in Russia to a family descended from Dutch immigrants. His mother was born in Estonia, from where both fled when the Red Army invaded in 1940, moving first to Germany and eventually settling in Austria. | Van der Bellen’s father was born in Russia to a family descended from Dutch immigrants. His mother was born in Estonia, from where both fled when the Red Army invaded in 1940, moving first to Germany and eventually settling in Austria. |
Aware of the need to appeal to voters a long way outside the party’s normal base, Van der Bellen, who lists 19th-century Russian literature and Donald Duck cartoons among his interests, has not shied away from espousing a few traditionalist traits. | Aware of the need to appeal to voters a long way outside the party’s normal base, Van der Bellen, who lists 19th-century Russian literature and Donald Duck cartoons among his interests, has not shied away from espousing a few traditionalist traits. |
His campaign videos have featured some unabashed yodelling, his speeches have often referred to the attachment he feels to his Tyrolean Heimat (homeland), and he has repeatedly stressed the social duties and obligation to integrate of Austria’s 90,000 newly arrived refugees. | His campaign videos have featured some unabashed yodelling, his speeches have often referred to the attachment he feels to his Tyrolean Heimat (homeland), and he has repeatedly stressed the social duties and obligation to integrate of Austria’s 90,000 newly arrived refugees. |
5.09am GMT | 5.09am GMT |
05:09 | 05:09 |
Italian front pages | Italian front pages |
La Repubblica goes with: “No wins, Renzi leaves.” | La Repubblica goes with: “No wins, Renzi leaves.” |
La prima pagina di #Repubblica tra poco in edicola #Referendum #Renzi #dimissioni pic.twitter.com/f11HoXtMB5 | La prima pagina di #Repubblica tra poco in edicola #Referendum #Renzi #dimissioni pic.twitter.com/f11HoXtMB5 |
Il Tempo probably needs no translation: | Il Tempo probably needs no translation: |
@matteorenzi perde il #referendumcostituzionale La @OfficialASRoma trionfa nel derby Ecco la nostra prima pagina Vi aspettiamo in edicola! pic.twitter.com/vYMpDaiT88 | @matteorenzi perde il #referendumcostituzionale La @OfficialASRoma trionfa nel derby Ecco la nostra prima pagina Vi aspettiamo in edicola! pic.twitter.com/vYMpDaiT88 |
And neither does Il Manifesto: | And neither does Il Manifesto: |
Non #ciaone ma #bellociao. La prima pagina del @ilmanifesto pic.twitter.com/74dkcYgtJi | Non #ciaone ma #bellociao. La prima pagina del @ilmanifesto pic.twitter.com/74dkcYgtJi |
Regional newspapers L’Alto Adige and Trentino have the referendum sweeping Renzi out: | Regional newspapers L’Alto Adige and Trentino have the referendum sweeping Renzi out: |
E buon #lunedì da #Bolzano con la #primapagina dell'@alto_adige di oggi Il #Referendum travolge @matteorenzi pic.twitter.com/WGSw9l0a4j | E buon #lunedì da #Bolzano con la #primapagina dell'@alto_adige di oggi Il #Referendum travolge @matteorenzi pic.twitter.com/WGSw9l0a4j |
Buon #lunedì da #Trento con la #primapagina del @Trentino di oggi il #referendum travolge @matteorenzi pic.twitter.com/mBsxw64kt1 | Buon #lunedì da #Trento con la #primapagina del @Trentino di oggi il #referendum travolge @matteorenzi pic.twitter.com/mBsxw64kt1 |
4.44am GMT | 4.44am GMT |
04:44 | 04:44 |
One constituency that has overwhelmingly voted ‘yes’ in Italy’s referendum? Overseas voters. | One constituency that has overwhelmingly voted ‘yes’ in Italy’s referendum? Overseas voters. |
With most of the overseas ballots now counted, yes leads no by 64.92% to 35.08%. | With most of the overseas ballots now counted, yes leads no by 64.92% to 35.08%. |
You can see a country-by-country breakdown here. | You can see a country-by-country breakdown here. |
One group voted overwhelmingly for 'yes' in #italyreferendum: overseas voters pic.twitter.com/OZJbkexML3 | One group voted overwhelmingly for 'yes' in #italyreferendum: overseas voters pic.twitter.com/OZJbkexML3 |
4.15am GMT | 4.15am GMT |
04:15 | 04:15 |
Martin Farrer | Martin Farrer |
For more on why the referendum could be bad news for the Italian economy, specifically the banking sector, there’s a good explainer here courtesy of Wolf Richter on his blog, Wolf Street. | For more on why the referendum could be bad news for the Italian economy, specifically the banking sector, there’s a good explainer here courtesy of Wolf Richter on his blog, Wolf Street. |
To summarise, the country’s banks have bad debts of €286bn sitting on their books. Somehow this situation needs to be dealt with, but the can has been kicked down the road continually in recent years. | To summarise, the country’s banks have bad debts of €286bn sitting on their books. Somehow this situation needs to be dealt with, but the can has been kicked down the road continually in recent years. |
One reason is that for the debts to be written off, it means a massive hit for junior bondholders, many of whom are ordinary Italians who were tempted into buying dud bank debt. | One reason is that for the debts to be written off, it means a massive hit for junior bondholders, many of whom are ordinary Italians who were tempted into buying dud bank debt. |
The problem is particularly acute for the third largest bank, Monte dei Paschi, which needs a €5bn recapitalisation. But thanks to the referendum, borrowing costs are rising, making it very expensive to get that capital into the bank, which has already gone through two failed rescues. | The problem is particularly acute for the third largest bank, Monte dei Paschi, which needs a €5bn recapitalisation. But thanks to the referendum, borrowing costs are rising, making it very expensive to get that capital into the bank, which has already gone through two failed rescues. |
As Richter writes: | As Richter writes: |
The already complex – and ultimately very costly – task of dealing with Italy’s zombie banks, after years of brushing toxic waste under the rug, has become vastly more complex in the absence of a government with a mandate. | The already complex – and ultimately very costly – task of dealing with Italy’s zombie banks, after years of brushing toxic waste under the rug, has become vastly more complex in the absence of a government with a mandate. |
Instability and uncertainty are likely to ricochet from Italy’s banking crisis to the eurozone and its teetering banks, and beyond. | Instability and uncertainty are likely to ricochet from Italy’s banking crisis to the eurozone and its teetering banks, and beyond. |
4.04am GMT | 4.04am GMT |
04:04 | 04:04 |
“I lost and I say it loud and clear, even if I have a lump in my throat,” Italy’s prime minister Matteo Renzi said in a late-night press conference. | “I lost and I say it loud and clear, even if I have a lump in my throat,” Italy’s prime minister Matteo Renzi said in a late-night press conference. |
“Tomorrow afternoon I will call a cabinet meeting … I will then go to the Quirinale where I will tender my resignation to the president.” | “Tomorrow afternoon I will call a cabinet meeting … I will then go to the Quirinale where I will tender my resignation to the president.” |
3.50am GMT | 3.50am GMT |
03:50 | 03:50 |
Italy referendum result: no wins with 59.26% | Italy referendum result: no wins with 59.26% |
With all the votes counted within Italy (counting of overseas ballots is not yet complete, and those tend towards yes, so the percentage might shift a little, but won’t change the outcome), here’s how the result stands, on a turnout of 68.48%: | With all the votes counted within Italy (counting of overseas ballots is not yet complete, and those tend towards yes, so the percentage might shift a little, but won’t change the outcome), here’s how the result stands, on a turnout of 68.48%: |
A thumping defeat for Renzi. | A thumping defeat for Renzi. |
Updated | Updated |
at 3.51am GMT | at 3.51am GMT |
3.34am GMT | 3.34am GMT |
03:34 | 03:34 |
Nigel Farage’s dabbling in Austria’s election has earned him a rebuke from the party he had backed to win the presidency. | Nigel Farage’s dabbling in Austria’s election has earned him a rebuke from the party he had backed to win the presidency. |
The former Ukip leader had claimed far-right candidate Norbert Hofer would call a Brexit-style referendum for Austria to leave the EU – something the candidate himself had explicitly ruled out: | The former Ukip leader had claimed far-right candidate Norbert Hofer would call a Brexit-style referendum for Austria to leave the EU – something the candidate himself had explicitly ruled out: |
It is not something I want. We need to build a stronger union. | It is not something I want. We need to build a stronger union. |
Farage also told Fox News host Sean Hannity last week: | Farage also told Fox News host Sean Hannity last week: |
I would put my money on the Freedom party’s Mr Hofer winning that election. | I would put my money on the Freedom party’s Mr Hofer winning that election. |
Hofer lost the vote to former Greens leader turned independent Alexander Van der Bellen, and labelled Farage’s comments a “crass misjudgment”, adding: | Hofer lost the vote to former Greens leader turned independent Alexander Van der Bellen, and labelled Farage’s comments a “crass misjudgment”, adding: |
It doesn’t fill me with joy when someone meddles from outside. | It doesn’t fill me with joy when someone meddles from outside. |
After the results became clear on Sunday night, Anton Mahdalik, a Freedom party member of Vienna city council, also criticised Farage’s referendum claim: | After the results became clear on Sunday night, Anton Mahdalik, a Freedom party member of Vienna city council, also criticised Farage’s referendum claim: |
That didn’t help us, it hindered us. | That didn’t help us, it hindered us. |
3.13am GMT | 3.13am GMT |
03:13 | 03:13 |
One name in the frame as a potential successor to Matteo Renzi in Italy is Pier Carlo Padoan, currently the country’s finance minister. | One name in the frame as a potential successor to Matteo Renzi in Italy is Pier Carlo Padoan, currently the country’s finance minister. |
Asked on Friday about his future plans, Padoan told Italy’s Sky TG24: | Asked on Friday about his future plans, Padoan told Italy’s Sky TG24: |
Of course, it will be up to the new government – if there will be a new one, which I don’t think will be the case – to decide its composition. | Of course, it will be up to the new government – if there will be a new one, which I don’t think will be the case – to decide its composition. |
The culture minister, Dario Franceschini, and Pietro Grasso – current Senate president, and briefly acting president of Italy until Sergio Mattarella’s swearing-in – have also been touted as possible caretaker leaders. | The culture minister, Dario Franceschini, and Pietro Grasso – current Senate president, and briefly acting president of Italy until Sergio Mattarella’s swearing-in – have also been touted as possible caretaker leaders. |
It will be up to Mattarella to appoint a new prime minister once Renzi formally submits his resignation on Monday. | It will be up to Mattarella to appoint a new prime minister once Renzi formally submits his resignation on Monday. |
Updated | Updated |
at 3.17am GMT | at 3.17am GMT |
2.52am GMT | 2.52am GMT |
02:52 | 02:52 |
What was Italy's referendum about? | What was Italy's referendum about? |
It will be hard, as the dust settles, to escape the Brexit prism through which many across Europe will view the Italian vote. | It will be hard, as the dust settles, to escape the Brexit prism through which many across Europe will view the Italian vote. |
But what was the referendum actually about? Stephanie Kirchgaessner explains: | But what was the referendum actually about? Stephanie Kirchgaessner explains: |
The reforms, which would have affected a third of the Italian constitution, had already been approved by parliament but by a slim margin, thus requiring that they also be passed by referendum. | The reforms, which would have affected a third of the Italian constitution, had already been approved by parliament but by a slim margin, thus requiring that they also be passed by referendum. |
Under the current system, which was created under Italy’s 1948 constitution, there are two chambers of parliament with directly elected lawmakers, the Chamber of Deputies and the Senate. Both chambers have equal power – it’s known as “perfect bicameralism” – and both must agree on legislation before it is passed. This means, put simply, that it can take a very long time for things to get done. For example, a law to give children born out of wedlock the same rights as children of married couples took nearly 1,300 days to be approved. | Under the current system, which was created under Italy’s 1948 constitution, there are two chambers of parliament with directly elected lawmakers, the Chamber of Deputies and the Senate. Both chambers have equal power – it’s known as “perfect bicameralism” – and both must agree on legislation before it is passed. This means, put simply, that it can take a very long time for things to get done. For example, a law to give children born out of wedlock the same rights as children of married couples took nearly 1,300 days to be approved. |
Under the proposed reforms, the Senate would have lost almost all its power – the number of senators would have been reduced from 315 to 100, and the remaining senators would no longer be elected directly. Instead, the 100 would have been made up of lawmakers selected by regional assemblies. Some mayors would also serve as senators. | Under the proposed reforms, the Senate would have lost almost all its power – the number of senators would have been reduced from 315 to 100, and the remaining senators would no longer be elected directly. Instead, the 100 would have been made up of lawmakers selected by regional assemblies. Some mayors would also serve as senators. |
That would have meant that most laws could be passed, including Italy’s budget, by the Chamber of Deputies without consulting the Senate. The Senate would only have had the power to weigh in on big issues such as other constitutional reforms and the ratification of EU treaties. | That would have meant that most laws could be passed, including Italy’s budget, by the Chamber of Deputies without consulting the Senate. The Senate would only have had the power to weigh in on big issues such as other constitutional reforms and the ratification of EU treaties. |
Some, but not all, constitutional experts believed the changes were essentially a power grab that would have made Renzi, or whoever was sitting in Palazzo Chigi, much more powerful. They argued that the changes would obliterate the delicate balance of power that was designed in 1948 by people who had witnessed the rise of fascism. | Some, but not all, constitutional experts believed the changes were essentially a power grab that would have made Renzi, or whoever was sitting in Palazzo Chigi, much more powerful. They argued that the changes would obliterate the delicate balance of power that was designed in 1948 by people who had witnessed the rise of fascism. |
All of Renzi’s political opponents on the left and the right were aligned against the constitutional reforms, in large part because they wanted to force his resignation. | All of Renzi’s political opponents on the left and the right were aligned against the constitutional reforms, in large part because they wanted to force his resignation. |
2.22am GMT | 2.22am GMT |
02:22 | 02:22 |
With 98% of votes tallied in Italy, it does look as if the ‘no’ vote is holding on to its near-20 percentage point lead, heading ‘yes’ by 59.61% to 40.39%. | With 98% of votes tallied in Italy, it does look as if the ‘no’ vote is holding on to its near-20 percentage point lead, heading ‘yes’ by 59.61% to 40.39%. |
Interestingly, as the Sky News tweet notes, ‘yes’ votes were in the majority among overseas voters – according to this official count by 65.2% to 34.7% so far – and in three Italian regions: Trentino-Alto Adige, Emilia-Romagna (by a whisker) and Tuscany. | Interestingly, as the Sky News tweet notes, ‘yes’ votes were in the majority among overseas voters – according to this official count by 65.2% to 34.7% so far – and in three Italian regions: Trentino-Alto Adige, Emilia-Romagna (by a whisker) and Tuscany. |
Scrutinio al 98%: il No al 59,6%, il Sì al 40,4%. Il Sì prevale all'estero e in tre regioni: https://t.co/ckK4Nq5S0o. #SkyReferendum pic.twitter.com/h6eCKjHnaV | Scrutinio al 98%: il No al 59,6%, il Sì al 40,4%. Il Sì prevale all'estero e in tre regioni: https://t.co/ckK4Nq5S0o. #SkyReferendum pic.twitter.com/h6eCKjHnaV |
1.55am GMT | 1.55am GMT |
01:55 | 01:55 |
Martin Farrer | Martin Farrer |
Market reaction to the Italian referendum result has been muted by comparison with the ups and downs in the hours and days after the Brexit and Trump votes. | Market reaction to the Italian referendum result has been muted by comparison with the ups and downs in the hours and days after the Brexit and Trump votes. |
Shares are down across most Asian markets: | Shares are down across most Asian markets: |
In futures trading, the FTSE100 is expected to dip 0.68% at the open while the Dow Jones average on Wall Street is set to fall 0.18%. | In futures trading, the FTSE100 is expected to dip 0.68% at the open while the Dow Jones average on Wall Street is set to fall 0.18%. |
The euro has slipped to a 20-month low of 1.0575 against the US dollar. | The euro has slipped to a 20-month low of 1.0575 against the US dollar. |
However, most reaction seems to agree that the biggest issue is the future of Italy’s fragile banking system. | However, most reaction seems to agree that the biggest issue is the future of Italy’s fragile banking system. |
The referendum was meant to smooth this week’s intended refinancing of Monte dei Paschi, Italy’s third-largest bank, which needs to raise an extra €5bn in capital and sell off €28bn of bad loans. But the political uncertainty set off by the referendum result will make it more difficult to secure that funding and condemn Italy’s already moribund economy to more months of stagnation. | The referendum was meant to smooth this week’s intended refinancing of Monte dei Paschi, Italy’s third-largest bank, which needs to raise an extra €5bn in capital and sell off €28bn of bad loans. But the political uncertainty set off by the referendum result will make it more difficult to secure that funding and condemn Italy’s already moribund economy to more months of stagnation. |
Minori Uchida, chief currency analyst at the Bank of Tokyo-Mitsubishi in Tokyo, told Reuters: | Minori Uchida, chief currency analyst at the Bank of Tokyo-Mitsubishi in Tokyo, told Reuters: |
The ‘no’ vote was priced in to a certain extent in advance. So I do not expect a freefall in the euro in the near term. | The ‘no’ vote was priced in to a certain extent in advance. So I do not expect a freefall in the euro in the near term. |
But in the long run, this will delay progress in Italy’s efforts to get rid of banks’ bad debt and is likely to widen the yield spread of German [and Italian bonds]. | But in the long run, this will delay progress in Italy’s efforts to get rid of banks’ bad debt and is likely to widen the yield spread of German [and Italian bonds]. |
1.45am GMT | 1.45am GMT |
01:45 | 01:45 |
Working out what the message voters wanted to send in Italy will not be straightforward, Stephanie Kirchgaessner reports from Rome: | Working out what the message voters wanted to send in Italy will not be straightforward, Stephanie Kirchgaessner reports from Rome: |
It was clear from the high voter turnout – 68% of eligible voters cast ballots on Sunday – that Italians were indeed sending a message to the political establishment in Rome. But deciphering that message will not be easy, despite celebratory claims from Europe’s far right. | It was clear from the high voter turnout – 68% of eligible voters cast ballots on Sunday – that Italians were indeed sending a message to the political establishment in Rome. But deciphering that message will not be easy, despite celebratory claims from Europe’s far right. |
Italy is facing a number of big issues that were not technically on the ballot: a migration crisis in which the country feels abandoned by Europe; an unresolved banking crisis; steep unemployment and a debt load of 132% of GDP with no solution in sight. | Italy is facing a number of big issues that were not technically on the ballot: a migration crisis in which the country feels abandoned by Europe; an unresolved banking crisis; steep unemployment and a debt load of 132% of GDP with no solution in sight. |
The fact is that Renzi’s defeat was almost a foregone conclusion give the scale of the opposition he faced, and not just from Northern League leader Matteo Salvini and Beppe Grillo, the bombastic former comedian and head of the Five Star Movement. But even from within the Democratic party and leftwing voters who defied the prime minister for a whole host of reasons, including a former prime minister, Mario Monti. | The fact is that Renzi’s defeat was almost a foregone conclusion give the scale of the opposition he faced, and not just from Northern League leader Matteo Salvini and Beppe Grillo, the bombastic former comedian and head of the Five Star Movement. But even from within the Democratic party and leftwing voters who defied the prime minister for a whole host of reasons, including a former prime minister, Mario Monti. |
While Salvini and M5S officials have touted the win as a major victory for their causes – they are not totally aligned but are vehemently opposed to the euro and the EU generally – it is clear that many Italians who voted no would not necessarily support either party in a general election. | While Salvini and M5S officials have touted the win as a major victory for their causes – they are not totally aligned but are vehemently opposed to the euro and the EU generally – it is clear that many Italians who voted no would not necessarily support either party in a general election. |
Indeed, some were indifferent to Renzi’s fate but believed the rise of populism made proposed changes to the constitution especially dangerous. | Indeed, some were indifferent to Renzi’s fate but believed the rise of populism made proposed changes to the constitution especially dangerous. |
Updated | Updated |
at 1.49am GMT | at 1.49am GMT |
1.32am GMT | 1.32am GMT |
01:32 | 01:32 |
While defeat for Renzi’s proposal was not unexpected in Italy, the size of the ‘no’ victory has exceeded most predictions. | While defeat for Renzi’s proposal was not unexpected in Italy, the size of the ‘no’ victory has exceeded most predictions. |
As the Financial Times’ bureau chief in Rome notes: | As the Financial Times’ bureau chief in Rome notes: |
There was actually a massive polling miss in the Italian referendum. He was behind 5-7 pp in the polls, will end up losing by nearly 20pp | There was actually a massive polling miss in the Italian referendum. He was behind 5-7 pp in the polls, will end up losing by nearly 20pp |
The current tally has ‘yes’ on 40.28%; ‘no’ on 59.72%. | The current tally has ‘yes’ on 40.28%; ‘no’ on 59.72%. |
1.22am GMT | 1.22am GMT |
01:22 | 01:22 |
Monday’s Guardian front page leads on news from Italy and Renzi’s departure: | Monday’s Guardian front page leads on news from Italy and Renzi’s departure: |
Guardian front page, Monday 5 December 2016: Italy reels after referendum defeat forces Renzi to resign pic.twitter.com/rWZAAYXCtc | Guardian front page, Monday 5 December 2016: Italy reels after referendum defeat forces Renzi to resign pic.twitter.com/rWZAAYXCtc |
1.13am GMT | 1.13am GMT |
01:13 | 01:13 |
After a tumultuous night in Italy, Matteo Renzi will on Monday head to the Quirinal palace to submit his resignation to president Sergio Mattarella. | After a tumultuous night in Italy, Matteo Renzi will on Monday head to the Quirinal palace to submit his resignation to president Sergio Mattarella. |
It is 14 months until the next elections are due, and it’s expected that Mattarella will attempt to pull together a caretaker prime minister – likely from from Renzi’s Democratic party – to serve until the February 2018 vote. | It is 14 months until the next elections are due, and it’s expected that Mattarella will attempt to pull together a caretaker prime minister – likely from from Renzi’s Democratic party – to serve until the February 2018 vote. |
The populist Five Star Movement and the anti-immigrant Northern League want early elections – but have no power to make that happen. | The populist Five Star Movement and the anti-immigrant Northern League want early elections – but have no power to make that happen. |
Forza Italia, the right-wing party led by former prime minister Silvio Berlusconi (yes, him), is less keen on a snap poll, Buzzfeed’s Alberto Nardelli says: | Forza Italia, the right-wing party led by former prime minister Silvio Berlusconi (yes, him), is less keen on a snap poll, Buzzfeed’s Alberto Nardelli says: |
Italian politics: Forza Italia's Brunetta saying he doesn't want snap elections. Of course he doesn't. Forza Italia would be annihilated. | Italian politics: Forza Italia's Brunetta saying he doesn't want snap elections. Of course he doesn't. Forza Italia would be annihilated. |