Italian PM Matteo Renzi steps down after losing referendum
Renzi bit the bullet following the exit poll, which predicted a heavy defeat for him.
Italy's youngest ever Prime Minister at just 39 years of age, Renzi took office in Feb 2014.
"My experience of government finishes here," Renzi told media.
"Today Italians have spoken and they have spoken equivocally," he said, while adding, "they have made a clear choice and I think it's a celebration of democracy."
"I take full responsibility of the defeat," Renzi said.
"In Italian politics, nobody ever loses. I have lost. They don't win but nobody ever loses," he added.
Taking a swipe at the prevalent system, Renzi said that he's different and isn't scared to admit he's been defeated.
"Everything stays the same after each election. I am different. I'm admitting it loud that I have been defeated," he said.
Renzi added that he wanted to bring about change, wanted to eliminate many seats, but he failed to do it.
"So it's my seat that will go," Matteo Renzi said.
Earlier in the year, David Cameron, the former Prime Minister of Britain too bit the Brexit bullet, following his countrymen's votes towards the leave campaign.
Meanwhile, following Renzi's resignation, the Euro took a nosedive.
Image: Wikimedia Commons
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