Italy PM resigns after clear referendum defeat

Italian Prime Minister Matteo Renzi has resigned after suffering a heavy defeat in a referendum over his plan to reform the constitution.

In a late-night news conference, he said he took responsibility for the outcome, and said the No camp must now make clear proposals.

With most ballots counted, the No vote leads with 60% against 40% for Yes, BBC reports.

The turnout was nearly 70%, in a vote that was seen as a chance to register discontent with the prime minister.

"Good luck to us all," Mr Renzi told reporters. He said he would tell a Cabinet meeting on Monday afternoon that he was resigning, and then tender his resignation to the Italian president after two-and-a-half years in office.

Mr Renzi said the reforms he proposed would have cut Italy's bureaucracy and made the country more competitive.

But the referendum was widely seen as a chance to register discontent with the prime minister.