Italy’s PM resigns amid turmoil

Prime Minister Matteo Renzi has handed in his resignation to Italy's president, three days after losing a referendum he had staked his career on.

He had promised to wait until the Senate passed the 2017 budget, which it did earlier in the day, BBC reports.

President Sergio Mattarella will start consultations with political parties over forming a caretaker government at 18:00 (17:00 GMT) on Thursday.

In the meantime, Mr Renzi is to act as a "caretaker prime minister".

The consultation, which is due to end on Saturday afternoon, will look at where support lies for a new government, a presidential aide, Ugo Zampetti, told reporters on Wednesday.

According to Reuters, Mr Mattarella is expected to ask a member of Mr Renzi's cabinet, or a politician from his Democratic Party (PD), to try to form a new government.

However, some are calling for the election, due in 2018, to be called early.

Italians voted on Sunday by a margin of 59% to 41% against Mr Renzi's plans for constitutional reform, prompting his decision to stand down.