Europe

Europe

Italian Prime Minister Silvio Berlusconi resigns after debt package passed

12 November 2011 21:18 (UTC +04:00)

The 75-year-old Berlusconi, Italyâ€™s longest-serving prime minister after the World War II and the third-richest man in the country said earlier this week he would resign after the government finally approves the new law that includes among others, labor reform proposals, aimed at increasing employment among women and young people, and a sell-off of state-owned assets and agricultural land.

The lower house of Italian parliament passed on Saturday the law with 380 votes in favor and 26 against the package.

Berlusconi arrived at the Quirinal Palace in central Rome 30 minutes later than scheduled, at 21:00 GMT to hand in his resignation to President Giorgio Napolitano, bringing to an end his 17-year political career, sharply criticized for corruption allegations and numerous sex scandals.

According to the wide media speculation about Berlusconiâ€™s successor, the most probable candidate for the top Italian post is the former European Commissioner, Mario Monti.