A shock wave hits Italy and more trouble for the EU. 


Italian PM Matteo Renzi to resign after heavy referendum defeat

http://news.sky.com/story/italian-pm-matteo-renzi-to-resign-in-wake-of-referendum-defeat-10683879

Matteo Renzi's resignation plunges Italy into uncertainty, as EU officials seek to play down the impact of the vote on the euro.Italian Prime Minister Matteo Renzi is resigning after losing a key referendum on constitutional reform.

The result plunges the country into political turmoil, but with the European Union already reeling from multiple crises and struggling to overcome anti-establishment forces, many sought to downplay the broader significance of the vote.EU finance commissioner Pierre Moscovici told reporters in Brussels that he has "full confidence in Italian authorities to manage this situation".He added: "I'm very confident in the capacity of the eurozone to resist all kind of shocks."

 Mr Renzi, who came to power in 2014, said he took full responsibility for the "extraordinarily clear" defeat, with the final count showing the "No" camp winning 59.1% to 40.9%."The experience of my government ends here," Mr Renzi said in a televised address to the nation.