So much for the globalist breather provided by the Austrian election. The Italians reject Renzi’s reforms.
Prime Minister Matteo Renzi has lost a referendum on constitutional reform by a wide margin, exit polls showed on Sunday, throwing his future into doubt and opening the door to renewed political instability in Italy.
Renzi, who had promised to resign if his flagship project was defeated, is due to address the nation at around midnight (6.00 p.m. ET), government sources said.
An exit poll by the Piepoli Institute/IPR for state television station RAI, estimated the ‘No’ vote at 54-58 percent against 42-46 percent for ‘Yes’. Two other polls gave ‘No’ a similar lead of at least 10 points. Voting ended at 11 p.m.
This is another step towards the end of the Euro and the EU.
UPDATE: Renzi has kept his word and resigned.