Italy's Prime Minister, Matteo Renzi, will hand in his resignation today following yesterday's defeat in a referendum on constitutional reform – leaving the country facing political instability.
Mr. Renzi promised to step down if he lost the referendum and he's to make the move official later today.
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Stocks and the euro fell in early morning trading.
Irish Times Rome Correspondent Paddy Agnew says he's surprised at the extent of the defeat.
