Renzi faces pressure to stay in office as Italy referendum defeat looms

Pressure is mounting on Renzi to drop his threat and instead agree to remain in power to deal with the fallout from a 'No' vote, including the risk of a fullblown banking crisis.

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Three center-left politicians who are in regular contact with Renzi told Reuters that he would honor his word and immediately resign if he is beaten, worried that failure to do so would do irreparable damage to his political image.

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Renzi acknowledges that personalizing the vote was a mistake and in August he changed tack, refusing to discuss his future while on the campaign trail. But with polls showing no sign of recovery, the prime minister has doubled down on his original threat over the past two weeks.