By Crispian Balmer and Steve Scherer ROME (Reuters) – Italian Prime Minister Matteo Renzi is set to resign on Monday after suffering a crushing defeat in a referendum over constitutional reform, tipping the euro zone's third-largest economy into political turmoil. Renzi's emotional, midnight resignation announcement sent the euro lower and jolted stock and bond markets on concerns that early elections could follow, possibly paving the way for an anti-euro party, the 5-Star Movement, to come to power. Financial markets bounced back later in the morning as European officials played down the prospect of a broader euro zone crisis, but Italy's fragile bank sector had dropped more than 4.7 percent at 1320 GMT.

Source: http://news.yahoo.com/italys-renzi-vows-resign-crushing-referendum-defeat-004159861–business.html

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