genie: hello, everyone. this is "france 24." i'm genie godula. these are the headlines. a crippling defeat for the italian prime minister. matteo renzi says he will resign after his attempts to change the constitution are overwhelmingly rejected in a referendum. french prime minister manuel valls is set to declare he is running for president. that announcement expected to

come later today following francois hollande's shock decision not to run for reelection next year. the populist movement is less successful in austria than in italy. the left-leaning former politician alexander van der bellen defeats the far right candidate there. also this hour, in business, we will look at the wild ride the markets have had monday as investors digest the no vote in the italian referendum. gold -- moreiant on the cheeky artwork as well as other nominees for this year's turner prize, on the way. first, our top story live from paris.

genie: populism has been on the rise around the world, and it rose up again in italy on sunday printed prime minister, matteo career on staked his a referendum over constitutional reforms, which were soundly rejected by voters. renzi has now said he will resign. camp was spearheaded by the five-star movement. for more on the story, let's go to josephine mckenna, who is in rome right now pray what happens from here on out? josephine: first of all, shocking for matteo renzi, as you said. only 2.5 years in office and he is on his way out. what happens now? he is meeting his cabinet today and then he will meet sergio mattarella, who will look to try

to get some sort of caretaker government. minister the meeting this morning. this has emboldened the five-star movement. calling for early elections. so, too, is the head of the anti-immigrant northern league. both of them have campaigned strongly during this referendum , and were really strongly responsible for putting together this tide of opposition. it is not only just a reaction to the constitutional reforms, a reaction against what mr. renzi was proposing to downgrade the senate, but also the frustration, the high levels of unemployment and the economic

stagnation that are affecting so many people in the country. genie: indeed, and particular younger voters. what kind of role did they play in the referendum? young voters were very significant. 70% of them voted against constitutional reform. what seems to be emerging is we know they have been hardest hit by the economic crisis and stagnation and the high level of unemployment, around 36% and higher in the southern regions of italy. but they are very angry and frustrated. but they are also going inpatient -- but they are also growing impatient, as matteo renzi was promising change. he was the demolition man promising to overturn the establishment. now he is viewed as being part of the establishment.

they sent a message of frustration and sent the minister packing. genie: josephine mckenna, reporting live from rome. here in france, the first round of the presidential election is just four months away. after the current president, francois hollande's shock announcement that he will not be running again,'s prime minister -- his minister is looking to step in manuel valls is running president as the socialist candidate. many critics of manuel valls cedi country has departed to the right, but with an authoritarian flair. -- he tried to screw

controversial working reforms without consent of parliament. he may have recently softened his more hard-line attitude, but manuel valls' famously business ideas will be opposed. as the interior minister, is no cover my stance on crime and romanian migrants earned him the nickname "the sarkozy of the left." these people have to stay in their countries and immigrate -- and assimilate over there. >> he entered politics early, becoming a member of the socialist party when he was only 17. he had presidential ambitions in the past. wii'sght the socialist nomination in the 2012 elections. he endorsed francois hollande and became his campaign spokesman. where the farria,

right candidate lost the presidential rate to the left-leaning candidate, alexander van der bellen. our correspondent is joining us from their banker at how secure was this win for alexander van der bellen? was it a sure thing? >> absolutely not. certainly in the last month before the reelection, both candidates stepped up their campaigns. pulls said that he managed to gain some more votes from disillusioned conservatives and previous nonvoters more than his rival, norbert reithofer -- norbert hofer, had. he wanted austria for the austrians, was protectionist. the top reasons for voting for

and appellant is that he was outward looking. reasons. the main analysts today are saying as many as 42% of austrians to voted yesterday voted for alexander van der bellen to prevent their country from electing a far right wing president, which could mean a shaky start for him when he becomes president in january, that he may not have full support for his ideas. he was seen by some as a lesser of two evils. genie: we have a different result from what we saw in italy. there is some construction going on behind you. stay with us if you can. this win is being interpreted a bit of a slap in the face to the far right movement. how big of a blow is this to them? certainly in austria, for the mainstream parties, they are saying it is a great day for

austria, a slap in the face for extremism. we have seen european leaders echo this. given the current international trend of populism we have seen in recent months, the freedom party, the far right, hopes to capitalize on what they were calling me trump effect. the vote turns against them, but it is important to say that they got 46% of the vote. a clear sign that austrian society is still divided and there is quite a lot of support for his ideas, and his party is still at the top of opinion polls. where they lost out in the presidential election, they have their eyes on the general elections, which will be in 2018. before this presidential election, it would have been unheard of that a member of the freedom party would beat out candidates in the early rounds from the social democrats and the conservatives to be one of the last two candidates in this election. but norbert hofer achieved this and has permeated the mainstream

with his party. the members of the freedom party are now household names, have become normalized in a sense, and they are putting down roots in the political landscape in austria. they are not going anywhere soon. genie: jessica saltz reporting from vienna. prosecutors are giving their closing statements in the long-running trial of the bosnian serb military chief, mladic. leaving some with 100,000 dead in the war. a centrals called him figure in the 1995 massacre of thousands of muslims from shrub today is the trevor nika beginning of the end of a trial that started more than four years ago print there will be one week of closing statements

before the three-judge panel will retire to decide the verdict. is u.n. security council voting today on a resolution demanding a temporary seven-day cease-fire in the syrian city of aleppo. that would also give humanitarian access to residents trapped in the bitter fighting there. russia, a major syrian ally, is resisting the resolution, -- the resolution. rebels in the besieged neighborhood of aleppo are losing more ground as regime forces continue their offensive. the army says it has retaken nearly 60% of territory once held by rebels. they will start concentrating on their last stronghold in the southeast. the loss of aleppo would mark the biggest defeat for opposition forces in syria's five-year civil war. brian quinn explains. former residents of east

aleppo eager to see their old neighborhoods once again. for four years they have been gone from their homes, having fled fighting and intense government bombardment after rebels seized control of the city's eastern neighborhoods in mid-2012. government buses are now taking them back to see their homes after recapturing a major portion of the rebel strongholds. potholesad is full of and it is tiring, but we are relaxed. we are very happy. it has been many years since we have been back to our home and our land. >> but there excitement phase when they see the extent of the destruction. neighborhoodial has been mostly reduced to rubble. those whose buildings have survived find their positions ransacked >. >> we have been building and preparing this house for 50 years. very difficult when you come and find nothing.

>> and the fighting still wages nearby. after retaking the northern neighborhoods of east aleppo, the syrian army is concentrating on driving the rebels out of their territory further south. sunday they announced the capture of a strategic road linking the city to its airport 10 kilometers east. at the same time, the army and allied militias are pushing into rebel territory in aleppo's old city. the government has retaken over ' formerhe insurgents territory and expects to have further control of the city within weeks. genie: we have got the latest for you on u.s. president-elect donald trump's new cabinet. the latest nomination is another former presidential rival, ben carson, now tapped to become the secretary of housing and urban development. he had been coy about joining the new administration, that he was not certain he would fit into a cabinet-style role.

we will take a look at some of the contenders for this year's turner prize, untoward known for dividing the contemporary art world. this year's finalists are doing that again. the shortlisted artists have taken over a room in an exhibit that opens to the public tomorrow. turner prizes awarded to a british artist under 50 for an outstanding exhibition. damiens winners included hirst. among the worst you can see this year are things like chastity spells -- chastity belts suspended from the ceiling. -- the peace they resistance -- aiece de resistance giant backside with two hands holding offered your life, you might say. let's look at today's headlines. in italy, a crippling defeat for matteo renzi, who says he will

resign as prime minister after his plans to change the constitution are overwhelmingly rejected in a referendum. that is good news for the populist five-star movement that is hoping to next move into power. france's prime minister, they ministerance prime manuel valls has announced he will run for president. hollandeows francois 's shocking decision not to run. the left-leaning former politician alexander bella bella and -- alexander van der bellen defeats the far right candidate there. time for business use with charles. you are going to start talking about the potential fall out of the no vote and its potential fallout in italy. : would it be able

to get the help and needs he back of the sector is crippled by a larger version -- by a large burden of bad debt. our correspondent tells us more. >> that it is enough, we decide now, reads the banner. italy's referendum result has not only sent political shockwaves throughout europe, but also threatens renewed economic turmoil. the italian gdp has fared little better than greece after over 15 years of euro membership. while renzi's proposed constitutional changes aim to tackle the banking sector, it is seen by the electors as an elite e.u. power grab. renziments of the government defeat was a strong sense of social unease for economic growth is weak. a wave of rage against the establishment materialized in this vote.

there is a. of uncertainty -- there is a period of uncertainty following renzi's election. if the uncertainty continues for a long period of time, we could get a lot of italian people having a run on the banks, going to the bank and withdrawing their money. if that becomes the case, the already fragile italian banking sector could collapse and the eurozone could have another big itblem in trying to buy out -- in trying to bailout italian banks. the world's oldest bank, monta paschi, needste to bring in 5 billion euros in order to survive. genie: what is the impact of a no vote on the markets?

charles: first of all, there was an immediate drop in the euro against the dollar. 1306, mostlyout because this result was the -- back up to about $1.06, mostly because this result was expected to investors know how to handle this. we have seen similar movements on the european markets as well after an initial drop in trading stocks shot back up to cover losses, except for the ftse in milan, which is down about 2/3 of a percent. 3.0%. is up by the dax and the -- the dax in frankfurt up by 1.5%. genie: so was the drop in the market justified at all? : the italians'

fundamental problems have not disappeared. italian banks are still burdened by debt and bad loans, and the deficit still stands at 132% of gdp, the second-highest in the eurozone after greece. so the no vote is not the catastrophe some would think it is going to be, but it is not fixing italy's core problems either. genie: let's focus on china. this monday was the official launch of a new trading link there. charles: hong kong and shenzhen are officially linked together now, both ending in negative territory. the link allows foreigners to buy bankshares at 800 chinese firms while giving mainland chinese more access to hong kong listed companies. there is a bridge between china and the rest of the world. this is touted as china's latest effort to prove its capital markets are gradually opening. genie: charles, thank you so much. it is now time for the review.

-- it is now time for the purpose review. pressr the purpos review. let's start in italy, were italy is waking up for this incredible defeat of matteo renzi that led to his resignation. >> let's start with the left-wing daily. they, like the majority of italian papers, are leading with a photo of sunday night's announcement. renzi is indeed stepping down. ae no vote won, and then i lost, andrenzi -- " it is my chair that got the chop." he wanted to slash the number of senators from 315 to 100. but as he admitted sunday, the only one losing their seat is in fact him.

genie: how is a more centrist paper reporting this news? >> it essentially argues that the main mistake renzi made here was holding a referendum in the first place. in most major yes-no votes that have taken place recently, the people chose the opposite of what the government wanted them to do. there is the brexit vote in the u.k., and the failed vote in colombia. renzi overestimated his popularity and underestimated the position of nontraditional parties. genie: "the guardian" argued that those nontraditional parties might not do as well out of this result as many protected. >> europe's far right is definitely celebrating this result, but this "guardian" piece argues that those who voted no will not -- were not necessarily voting for the far

right. renzi was suspiciously unpopular, even in the third-party. we also read that the undeniable boost to the five-star movement and the northern league could solidify and historic alliance between renzi's democratic party and silvio berlusconi's, thereby blocking more personal gains for the antiestablishment goods. genie: there was also a presidential vote in austria, and there the far right candidate was defeated by a more moderate central left candidate, alexander vanderbilt one. "the wall street journal" says the election of the european alexander bella band of -- of alexander van der bellen is described as a victory for europe and liberation in an era

when populism is sweeping across europe and the usa there is one word that keeps on coming back in the austrian press. hat word is "finally." why? because this election was a long time in the making. alexander van der bellen finally triumphs, reads this piece. after two rounds of voting, accusations of electoral occurred.ent so there is a sense of relief and the austrian press that this is finally over. papers are getting excited about the potential election here. now four months away from the first round, and the big question of when prime minister vols will announce that he is running for president. >> according to the front page of a catholic, days after

president francois hollande shocked the nation by announcing he would not throw his hat into the ring for a second term. the paper is convinced we will not have which -- that we will not have to wait much longer for manuel valls to announce that he will run. he is on the starting line and away the favorite to win the center-left primaries at the end of january. newspaperther french does not think it will be quite so easy for him. preparing fors is the 2017 battle on a minefield. he will have to face a mammoth challenge of reuniting the socialist party that he had in fact personally helped to divide, the left-wing paper votersle says that the that he will find the hardest to win over, are known by the paper

e's -- e on -- "holland especially when he saw so many of his supporters as a backstab or and a very unnatural successor. genie: just to wrap up, you have a story out of cuba that involves the recently deceased fidel castro. >> the french minister attended the funeral of fidel castro and many found a that little too if you said. she called castro a towering historical figure, somewhat forgetting the human rights abuses is to place in cuba on his watch. ,e monde has come down squarely dedicating a position literally delivering abuses under castro.

a front-page article is an italian cheeky reference to a word that is seemingly invented on the spot a couple of years ago. genie: all right, thank you. for a close look at the press review, you can always check out the website, france24.com. we are going to take a quick break. when we come back, we will have more on what is next for italy in the wake of the staggering defeat of prime minister matteo renzi, and sunday's referendum. take care.

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