Renzi Delays Resignation Until Senate Passes Budget Law

With Matteo Renzi’s resignation formally announced just after midnight local time yesterday following the rout in the Italian referendum, the prime minister met with Italian president Sergio Mattarella to discuss the terms of his resignation. However, it appears that Renzi’s departure may not be as clear cut as some had expected, and as Ansa reports, Renzi may delay his resignation following a request by the president to hold the post until the Senate Budget Law is passed, which could take place as soon as later this week, or – this being Italy – may stretch quite a bit longer.
More details from Reuters:
Italian President Sergio Mattarella told Prime Minister Matteo Renzi on Monday to put his planned resignation on hold until parliament had approved the 2017 budget, which could be done as early as Friday. After a meeting with Renzi, Mattarella’s office said in a statement that the prime minister had told him he could no longer remain in power.

This post was published at Zero Hedge on Dec 5, 2016.