Italian PM Matteo Renzi to resign
Italy’s prime minister is to resign, after losing a key referendum on constitutional reform.
News that Matteo Renzi would step down sparked concern in the markets, sending the Euro to a 20 month low against the dollar.
John O’Brennan is Professor of EU Politics at Maynooth University.
He says Italy is a hugely important member of the single currency, and the impact of the vote will be closely watched: "Some if its banks are in real trouble and the kind of firm authority that an Italian Government might have put to use, in dealing with that problem is not there.
"And that brings us to the second problem which is the political instability that is now almost inevitable in the wake of this result."
