MILAN (AP) — Italian voters dealt Premier Matteo Renzi a resounding rebuke by rejecting his proposed constitutional reforms, plunging Europe's fourth-largest economy into political and economic uncertainty Monday. However, the Italian vote was swiftly seized upon by French National Front leader Marine Le Pen, who tweeted: “The Italians have rejected the European Union and Renzi.”

The biggest immediate loser from the No vote could be Monte dei Paschi di Siena, Italy’s third-largest bank, which is weighed down by bad loans and looking to raise £4.2 billion this month to stave off collapse. Mr. Renzi said he took full responsibility for the "extraordinarily clear” defeat

Italian Prime Minister Matteo Renzi announced that he would resign following a stinging defeat on Sunday in referendum over his proposals for constitutional reform.
Following the result of the constitutional referendum, Matteo Renzi will resign from his office as Prime Minister of Italy. With most ballots counted, the "No" vote leads with 60%.