Italy's Prime Minister Renzi To Resign Friday: Report

By Carla Mozee Markets MarketWatch Pulse

Italian Prime Minister Matteo Renzi will turn in his resignation on Friday, according to a Reuters report Wednesday, citing a parliamentary source. Renzi said Sunday he would leave his post after voters rejected a referendum proposing changes to the country's constitution. Renzi was reportedly asked to stay on long enough to oversee the passage of Italy's 2017 budget. The country isn't due to hold a parliamentary election before 2018, but consensus is growing among party leaders to hold it a year earlier, Reuters reported.

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