The consultation talks led by Italian President Sergio Mattarella with the country's main political forces was expected to end on Saturday afternoon, in an effort to lead the country out of the impasse to form a new government.

Italy's Matteo Renzi has made his resignation as prime minister, after a crushing defeat in last Sunday's referendum on constitutional reform law.

The reform sought to streamline Italy's political machinery by reducing the Senate from 315 to 100 members, eliminating Italy's 110 provinces, and transferring some powers from Italy's 20 regions to the national government.

Last Sunday, close to 60 percent of voters rejected the reform while about 40 percent approved it.

On Wednesday, Renzi announced on twitter that he would officially tender his resignation to Mattarella at 19:00 local time, which he did. The tweet came minutes after his government's 2017 budget - the last pending item - cleared a Senate confidence vote to become law.

Mattarella replied to Renzi by asking his government to remain in charge of day-to-day business while he started consultations with the country's main political forces.

The talks led by the president started on Thursday afternoon and will end on Saturday afternoon, the president's office said in a communique.

In a brief address on Wednesday to the executive of his center-left Democratic Party, Renzi said the future holds two alternatives: either a broad coalition government to steer the country through the end of the current legislature in 2018, or early elections as soon as the Constitutional Court pronounces itself on "Italicum" electoral law.

The Constitutional Court said Tuesday it would begin hearings on the Italicum on January 24, which means Italy can't hold elections until after that date - a fact which has raised the hackles of opposition parties, all of which are clamoring for snap elections.

First among these is Italy's second-largest party, the Five Star Movement (M5S) led by Beppe Grillo.

The M5S announced Wednesday it has filed a proposed bill extending the Italicum to the Senate.

As well, the M5S made known it will invite its activists to choose a candidate to be Italy's next prime minister and cabinet in an online vote on Grillo's blog.

source: Xinhua