Italians rejected the constitutional change: Prime Minister Matteo Renzi resigns

World News Rudolph Rodriquez
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Italians rejected the proposal of changing the Constitution, and Matteo Renzi will resign from the position of prime minister.

He announced that he would ask for the Italian President Sergio Mattaerela’s acceptance to submit his mandate.

Italy could enter into a political crisis following the outcome of the referendum, which could generate a new shock to the European community, after Brexit.

UPDATE 9:10 pm

A public opinion polling institute shows that most of those who opposed the constitutional reforms are young people aged between 18 and 34 years (81%).

Among those aged 35-54 years, 67% voted ‘No’, while most voters aged over 55 (53%) put the stamp on ‘Yes’.

UPDATE 7:05 pm.

According to the latest data, the ‘No’ field won by nearly 65%. Voting turnout was 70%.

UPDATE 5:45 pm, December 5th

Italians voted against changing the Constitution. Field ‘No’ obtained 54-58%, while ‘Yes’ obtained 42-46%, according to the latest exit polls. Initial estimations showed a more detached victory of those who rejected the constitutional reforms: 57-61%.

Following the outcome of the referendum, Prime Minister Matteo Renzi will resign on Monday. One of those who supposed to take Renzi’s place is Pier Carlo Padoan, Minister of Finance in Renzi’s government.

Matteo Renzi expressed his vote on Sunday, without making any statement. Italian Prime Minister who may resign after this referendum arrived at the station with his wife.

Former Prime Minister Silvio Berlusconi also voted in this referendum, watched breathlessly by the European Union. He declared himself against the constitutional reforms proposed by Matteo Renzi.

Worst scenario regarding the referendum

If the majority would be against changing the Constitution, it is unclear who will succeed the Italian Prime Minister and this uncertainty provokes panic in the exchange markets. According to the most pessimistic scenario, the political blockage could eventually lead to promoting an M5S  movement and creating a new European crisis after Brexit.