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Renzi Loses Key Referendum, Fears Grow for Italian Banks

Italy appears headed for weeks of political turmoil after voters in a national referendum Sunday rebuffed a constitutional reform package proposed by Prime Minister Matteo Renzi, who announced his resignation as the scale of the defeat unfolded. At a short news conference within two hours of the polls closing, the 41-year-old Renzi conceded defeat, saying, “I have lost, and I say it out loud.” He said he will offer his resignation Monday to Italian President Sergio Mattarella. “We...

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