Prime Minister Matteo Renzi will hand in his resignation Friday, a parliamentary source said, as President Sergio Mattarella seeks to slow the pace of an unfolding political crisis.

 

Renzi

 

Renzi vowed to resign in the early hours of Monday after a bruising referendum loss, but Mattarella, whose powers include naming prime ministers and dissolving parliament, asked him to stay on until the 2017 budget passes in a parliamentary vote scheduled for later on Wednesday.

 

The reason Renzi’s resignation was delayed until Friday was unclear, but Mattarella wants parliament to draft a new electoral law before any ballot is held, a source close to the president said on Tuesday, a move likely to push back any vote until spring.

 

Italy is not due to hold a parliamentary election before 2018 but there is growing consensus among party leaders to hold it a year earlier. Interior Minister Angelino Alfano, head of a small center-right group, said it should take place in February.