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Matteo Renzi officially stepped down as prime minister on Wednesday, three days after his stinging defeat in a critical referendum, formally ending Italy’s 63rd government in 70 years. The New York Times reports.

Mr. Renzi had already tendered his resignation early Monday, after Italians overwhelmingly rejected a series of proposed changes to the Constitution on which he had staked his seat.

On Monday, President Sergio Mattarella asked the prime minister to stay on to approve the budget for the coming year. The budget was passed on Wednesday, and Mr. Renzi formalized his resignation soon after. This time, Mr. Mattarella accepted, but he asked the government to stay on in a caretaker capacity to handle day-to-day affairs.

The ball now falls into Mr. Mattarella’s court. On Thursday, he will begin consulting with the leaders of Italy’s political parties to verify the various options open to him.

Mr. Renzi’s government was one of only four governments to last more than 1,000 days. He came to power in 2014 after staging an internal party coup, alienating his Democratic Party’s more left-leaning factions.