Renzi resigns, hints at early election

Matteo Renzi bowed out as Italian prime minister with a combination of jokes, regrets and a strong hint that he wants to lead his party into an early election battle.

Political consultations on forming a caretaker government were set to begin on Thursday, after Renzi formally submitted his resignation to President Sergio Mattarella following a crushing referendum defeat.

Before handing back the keys to his Palazzo Chigi residence, the 41-year-old chaired a meeting of the executive of his Democratic Party.