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Italy referendum: Matteo Renzi to resign after defeat as Austria rejects far right – live Italy referendum: Renzi to resign after defeat as Austria rejects far right – live
(35 minutes later)
7.05am GMT
07:05
Italy, Austria and more: 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.
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.
Meanwhile
Updated
at 7.07am GMT
6.51am GMT
06:51
Italy’s Sky TG24, citing pollsters Quorum, says younger voters opted overwhelmingly for no, by 81% to 19% among 18- to 34-year-olds.
For the 35-54 age group, 67% chose no, with 33% ticking yes.
It was only among the 55+ voters that a majority went for yes, by 53% to 47%.
.@QuorumSAS per #SkyTG24: il #No stravince (81%) tra i giovani, il #Sì prevale solo di poco tra gli over 55 #SkyReferendum pic.twitter.com/zkyKlcPrsy
6.37am GMT6.37am GMT
06:3706:37
Italy referendum: final tallyItaly referendum: final tally
All votes – from within Italy and overseas ballots – have now been counted.All votes – from within Italy and overseas ballots – have now been counted.
The final result is:The final result is:
Turnout was 65.47%.Turnout was 65.47%.
UpdatedUpdated
at 6.49am GMTat 6.49am GMT
6.34am GMT6.34am GMT
06:3406:34
The office of French president Manuel Valls has issued a statement confirming he will make a statement at 6.30pm (5.30pm GMT) but giving no further details.The office of French president Manuel Valls has issued a statement confirming he will make a statement at 6.30pm (5.30pm GMT) but giving no further details.
It’s widely expected that he will announce he is seeking the Socialist candidacy for next year’s presidential election – and could step down as PM to do so.It’s widely expected that he will announce he is seeking the Socialist candidacy for next year’s presidential election – and could step down as PM to do so.
6.28am GMT6.28am GMT
06:2806:28
In other European leader news, French prime minister Manuel Valls is expected to announce a bid for the presidency today, media there are reporting.In other European leader news, French prime minister Manuel Valls is expected to announce a bid for the presidency today, media there are reporting.
The move has been anticipated since François Hollande’s announcement that he would not seek a second term as president.The move has been anticipated since François Hollande’s announcement that he would not seek a second term as president.
It’s possible that Valls will resign as prime minister to focus on campaigning for the Socialist party’s primary vote at the end of January.It’s possible that Valls will resign as prime minister to focus on campaigning for the Socialist party’s primary vote at the end of January.
An announcement is expected at 6.30pm Monday, French media are saying.An announcement is expected at 6.30pm Monday, French media are saying.
6.06am GMT6.06am GMT
06:0606:06
Italy and Austria: what we know so farItaly and Austria: what we know so far
Claire PhippsClaire Phipps
ItalyItaly
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.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/r8FXztp9AmViva Trump, viva Putin, viva la Le Pen e viva la Lega! https://t.co/r8FXztp9Am
AustriaAustria
small global turning of the tide in these uncertain, not to say hysterical and even stupid times.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.It doesn’t fill me with joy when someone meddles from outside.
And in completely unrelated newsAnd in completely unrelated news
UpdatedUpdated
at 6.20am GMTat 6.20am GMT
5.48am GMT5.48am GMT
05:4805:48
There are three options for what happens next for Italy’s government, AFP reports – one more likely than the others:There are three options for what happens next for Italy’s government, AFP reports – one more likely than the others:
1: Renzi stays in power1: 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.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.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.The crushing victory for the ‘no’ camp makes the return of Renzi a very distant possibility.
2: Technocratic government2: 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.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.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.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.He or she could also decide to continue until the end of the current parliamentary term in February 2018.
3: Immediate dissolution of parliament3: 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.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.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.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.
UpdatedUpdated
at 5.50am GMTat 5.50am GMT
5.34am GMT5.34am GMT
05:3405:34
Who is Austria's new president?Who is Austria's new president?
Jon HenleyJon 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 GMT5.09am GMT
05:0905:09
Italian front pagesItalian 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/f11HoXtMB5La 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/74dkcYgtJiNon #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/WGSw9l0a4jE 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/mBsxw64kt1Buon #lunedì da #Trento con la #primapagina del @Trentino di oggi il #referendum travolge @matteorenzi pic.twitter.com/mBsxw64kt1
4.44am GMT4.44am GMT
04:4404:44
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/OZJbkexML3One group voted overwhelmingly for 'yes' in #italyreferendum: overseas voters pic.twitter.com/OZJbkexML3
4.15am GMT4.15am GMT
04:1504:15
Martin FarrerMartin 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 GMT4.04am GMT
04:0404:04
“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.”