Day of resignations: Italian Prime Minister Matteo Renzi quits

Los Angeles : It was a day of resignations with the world leaders witnessing the resignations of two important people on earth.

First announcement was made by New Zealand's popular Prime Minister John Key who stunned the nation by announcing that he was resigning after eight years as leader.

Addressing the media, Key said that he don’t want to commit the same mistake committed by other leaders and wanted to resign still when he is at the top of his game.

He also said that his political decisions have taken a toll on his family and that his National Party caucus would meet Dec. 12 to decide on a new party leader and prime minister.

“I will formally submit my resignation to the Governor-General that same day,” he added.

Notably, Key was widely expected to contest his fourth general election next year.

Another resignation which rocked the world was of Italian Prime Minister Matteo Renzi who announced that he would resign following a stinging defeat on Sunday in referendum over his proposals for constitutional reform.

His televised address to the nation read: “The experience of my government ends here.”

He also took full responsibility for the "extraordinarily clear” defeat and that on Monday afternoon he would convene his cabinet and then hand his resignation to President Sergio Mattarella.