Italian Prime Minister Matteo Renzi

Paolo Gentiloni was named Sunday as Italy's new prime minister following reformist leader Matteo Renzi's resignation in the wake of a crushing referendum defeat.

Italian President Sergio Mattarella pledged on Saturday to act quickly to solve a government crisis prompted by Matteo Renzi's resignation as prime minister, with all major parties calling for elections as soon as possible.

Italian President Sergio Mattarella indicated Saturday he would move swiftly to appoint a new government, saying the country had pressing issues to address following Prime Minister Matteo Renzi's resignation.

Italian Prime Minister Matteo Renzi announced he would resign at 1800 GMT Wednesday, three days after suffering a stinging defeat in a referendum on constitutional change.

Italian Prime Minister Matteo Renzi will hand in his resignation on Friday, a parliamentary source said, as President Sergio Mattarella seeks to slow the pace of an unfolding political crisis.

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.

Italian President Sergio Mattarella on Monday asked outgoing Prime Minister Matteo Renzi to delay his resignation for long enough to oversee the adoption of the country's 2017 budget.

Italian Prime Minister Matteo Renzi is set to resign on Monday after suffering a resounding defeat in a referendum over constitutional reform, leaving the euro zone's third-largest economy in political limbo.

Italian Prime Minister Matteo Renzi arrived at the presidential palace in Rome late Monday to formally offer his resignation following a crushing referendum defeat.

The euro slid as much as 2.1 percent to 118.71 yen, but pared some of the losses to trade down 0.9 percent at 120.08 yen.

In forex markets, the 19-nation euro slumped to $1.0506 in early Tokyo trade, its lowest since March 2015, but it later rebounded to $1.0585.

Italy's Prime Minister Matteo Renzi announced early on Monday that he would be stepping down after losing a referendum on constitutional reform.

Italian voters on Sunday overwhelmingly rejected constitutional reform proposals on which Prime Minister Matteo Renzi has staked his political future, exit polls suggested.

European Commission President Jean-Claude Juncker hopes Italians will not reject reforms sponsored by Prime Minister Matteo Renzi when they vote in a referendum over changing the country's constitution, he told a newspaper on Sunday.

Italian Prime Minister Matteo Renzi won a confidence vote in the lower house of parliament on Friday that takes him a step towards passing a 2017 budget law that raises pension and health spending and heads off a huge sales-tax increase.

Paolo Gentiloni was named Sunday as Italy's new prime minister following reformist leader Matteo Renzi's resignation in the wake of a crushing referendum defeat.

Italian President Sergio Mattarella pledged on Saturday to act quickly to solve a government crisis prompted by Matteo Renzi's resignation as prime minister, with all major parties calling for elections as soon as possible.

Italian President Sergio Mattarella indicated Saturday he would move swiftly to appoint a new government, saying the country had pressing issues to address following Prime Minister Matteo Renzi's resignation.

Italian Prime Minister Matteo Renzi announced he would resign at 1800 GMT Wednesday, three days after suffering a stinging defeat in a referendum on constitutional change.

Italian Prime Minister Matteo Renzi will hand in his resignation on Friday, a parliamentary source said, as President Sergio Mattarella seeks to slow the pace of an unfolding political crisis.

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.

Italian President Sergio Mattarella on Monday asked outgoing Prime Minister Matteo Renzi to delay his resignation for long enough to oversee the adoption of the country's 2017 budget.

Italian Prime Minister Matteo Renzi is set to resign on Monday after suffering a resounding defeat in a referendum over constitutional reform, leaving the euro zone's third-largest economy in political limbo.

Italian Prime Minister Matteo Renzi arrived at the presidential palace in Rome late Monday to formally offer his resignation following a crushing referendum defeat.

The euro slid as much as 2.1 percent to 118.71 yen, but pared some of the losses to trade down 0.9 percent at 120.08 yen.

In forex markets, the 19-nation euro slumped to $1.0506 in early Tokyo trade, its lowest since March 2015, but it later rebounded to $1.0585.

Italy's Prime Minister Matteo Renzi announced early on Monday that he would be stepping down after losing a referendum on constitutional reform.

Italian voters on Sunday overwhelmingly rejected constitutional reform proposals on which Prime Minister Matteo Renzi has staked his political future, exit polls suggested.

European Commission President Jean-Claude Juncker hopes Italians will not reject reforms sponsored by Prime Minister Matteo Renzi when they vote in a referendum over changing the country's constitution, he told a newspaper on Sunday.

Italian Prime Minister Matteo Renzi won a confidence vote in the lower house of parliament on Friday that takes him a step towards passing a 2017 budget law that raises pension and health spending and heads off a huge sales-tax increase.