Matteo Renzi will resign as Italian prime minister after being roundly defeated in a referendum to change the constitution, marking a major victory for anti-establishment and rightwing parties and plunging the eurozone’s third largest economy into political chaos.
The prime minister conceded defeat in an emotional speech at his residence, Palazzo Chigi, and said he would submit his resignation to Italy’s president, Sergio Mattarella, on the afternoon of Dec. 5.
