Italian Prime Minister Matteo Renzi resigns following resounding defeat in Referendum, raising economic stability concer

After a crushing defeat in a referendum, Italian Prime Minister Renzi resigned, leading to political uncertainty in Italy and Europe. Despite this, the Italian markets remained calm. Populist movements across Europe celebrated the result, seeing it as a win for democracy. The situation is complex, with many Italians opposing Renzi's constitutional changes rather than supporting populism. Economic concerns, particularly regarding Italian banks, add to the uncertainty. Historical parallels suggest a turbulent future for Europe, with many elections and political shifts expected. In the short term, Italy may see an interim Prime Minister appointed.

What challenges are highlighted regarding the Italian banks?

What does the text suggest about the future of politics in Europe?