Italian Senate Passes 2017 Budget Clearing Way for Prime Minister's Resignation

© AP Photo / Andreas SOLARO/AFPItaly's Prime Minister Matteo Renzi announces his resignation during a press conference at the Palazzo Chigi following the results of the vote for a referendum on constitutional reforms, on December 5, 2016 in Rome.
Italy's Prime Minister Matteo Renzi announces his resignation during a press conference at the Palazzo Chigi following the results of the vote for a referendum on constitutional reforms, on December 5, 2016 in Rome. - Sputnik International
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The Italian parliament approved the country's 2017 budget on Wednesday, paving the way for the resignation of Prime Minister Matteo Renzi after his defeat in a referendum on constitutional change.

Italian Prime Minister Matteo Renzi speaks during a media conference after a referendum on constitutional reform at Chigi palace in Rome, Italy, December 5, 2016. - Sputnik International
Renzi Resignation Boosts Italy’s Economic Risks Amid Political Tumult in Europe
ROME (Sputnik) — On Sunday, Italians rejected a constitutional reform plan proposed by the country’s prime minister. The referendum was largely viewed as a vote on Renzi’s leadership, and led him to announce his intention to resign on Monday night, immediately after the results were clear. However, Italian President Sergio Mattarella asked Renzi to postpone his resignation until after the adoption of a law defining the 2017 state budget.

Earlier in the day, the Senate approved the proposed budget with a vote of confidence.

The referendum proposed limiting Senate powers to speed up the lawmaking process.

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