Italian channels Rai and La7 television are both projecting the “No” camp as winners by a margin of at least 54% to 46%.
Italian Prime Minister Matteo Renzi bet his entire future on a “Yes” vote. If “No” were to win, Renzi vowed to resign.
Exit polls strongly suggest that voters have rejected Renzi’s plans to reduce the role of Italy’s Senate and take back powers from regional authorities.
Opposition parties are calling on Renzi to resign. Renato Brunetta, the parliamentary leader of former prime minister Silvio Berlusconi’s centre-right Forza Italia party…
“Renzi is going to go and with him the powerful lobbies who were also defeated.”
Matteo Salvini, the head of the Northern League party, said Mr Renzi should quit “in the coming minutes” and called for early elections.
If Mr Renzi resigns, it could plunge Italy into political turmoil and cause economic instability in the struggling eurozone country.
The result, if confirmed, would also be another blow to the European Union, which is struggling to overcome a number of crises and was keen for Mr Renzi to continue his reform drive.
Renzi will address the nation at midnight local time. More EU turmoil is coming. Italian banks are set to burst.
Keep posted. The Duran will be following up on this huge story with more analysis.
For now, here is how Drudge Report frames it…