The prompt resignation of the Italian prime minister has been put on hold temporarily by Italy’s president.
Matteo Renzi has agreed to stay in post at least until the Italian senate passes the country’s budget for 2017.
Renzi offered his resignation in the hours after a stunning defeat in a constitutional referendum on Sunday. The vote against reform was widely seen as a rejection of establishment politics in Italy.
President Sergio Mattarella will have to chart the course ahead, either by appointing a new caretaker administration or calling for elections. But for now he has asked Renzi to stay on at least until the budget bill which is expected to be approved within the coming few days.
Renzi had staked his premiership on the successful outcome of the referendum which would have been an important part of his strategy of reforming Italy’s cumbersome political system.
But with a defeat of nearly 60% against and 40% in favour, it was thought his departure would be swift.
The president said in a statement that he wanted to avoid “the risks of a provisional budget”. He also said it is important to respect “commitments and deadlines”.
Renzi’s time in office was two years and 287 days, making his presidency the fourth longest since 1990. He was the 41st prime minister since the end of WWII.