Italy Berlusconi vows to resign after approval of economic reforms
- By Ritika Sharma
- Published 11/10/2011
- Politics
- Unrated
Politics News
After losing parliamentary majority on Tuesday, Italian Prime Minister Silvio Berlusconi has promised to resign, provided parliament approves “economic reforms promised to the European Union.”
Berlusconi managed to pass the budget bill with 308 votes, but he fell eight votes short of parliamentary majority, as more than half of country's 630 lawmakers did not vote.
The news of resignation came after the 75-year-old politician met President Giorgio Napolitano Tuesday evening to discuss his future after the parliamentary vote. The president's office released a statement that Berlusconi “has agreed to resign” after the adoption of key reforms.
“Once this commitment has been carried out, the prime minister will submit his resignation to the head of state," it added.
Even if the embattled prime minister resigns, it doesn't mean he cannot contest elections in future. But considering the corruption and sex scandals, and criticism he is facing for handling Italy's economy, this outcome is unlikely.
Will Berlusconi's reign end soon:- Though Italy's longest serving prime minister Berlusconi has vowed to step down, his reign may not end so soon, believe opposition leaders. Berlusconi is expected to ask the president for early elections, opposition parties are already pushing Napolitano to form a national-unity government so that immediate steps can be taken to manage Italy's debt.
Antonio Di Pietro, leader anti-corruption Italy of Principles party, was quoted by The Guardian as saying, Berlusconi is just “taking another month to try to buy a few parliamentarians."
Likewise, Giacomo Marramao, a political philosophy lecturer at Rome 3 university, told AFP, “We
have to take into account the character and nature of Berlusconi. He will discuss his resignation only if he receives guarantees for his companies, for his security, particularly in a legal sense.” Antonio Di Pietro, was quoted by The Guardian as saying, Berlusconi is just “taking another month to try to buy a few parliamentarians."
Even if the embattled prime minister resigns, it doesn't mean he cannot contest elections in future. But considering the corruption and sex scandals, and criticism he is facing for handling Italy's economy, this is unlikely. Giacomo Marramao, a political philosophy lecturer at Rome 3 university, told AFP, “We have to take into account the character and nature of Berlusconi. He will discuss his resignation only if he receives guarantees for his companies, for his security, particularly in a legal sense.”
Possible outcome:- If the parliament approves austerity package and the controversial leader resigns, Napolitano would begin talks with parliamentary leaders on whether to appoint one of Berlusconi's aide as the new prime minister, or create a new government with current political assembly, or go for early elections before end of government's tenure in 2013. The news of resignation came after the 75-year-old politician met President Giorgio Napolitano Tuesday evening to discuss his future after the parliamentary vote.
While Berlusconi is expected to ask the president for early elections, opposition parties are already pushing Napolitano to form a national-unity government so that immediate steps can be taken to manage Italy's debt.
Here you can get the latest updates about Personal Finance News. For more details feel free to visit www.themoneytimes.com stock market updates .
Berlusconi managed to pass the budget bill with 308 votes, but he fell eight votes short of parliamentary majority, as more than half of country's 630 lawmakers did not vote.
The news of resignation came after the 75-year-old politician met President Giorgio Napolitano Tuesday evening to discuss his future after the parliamentary vote. The president's office released a statement that Berlusconi “has agreed to resign” after the adoption of key reforms.
“Once this commitment has been carried out, the prime minister will submit his resignation to the head of state," it added.
Even if the embattled prime minister resigns, it doesn't mean he cannot contest elections in future. But considering the corruption and sex scandals, and criticism he is facing for handling Italy's economy, this outcome is unlikely.
Will Berlusconi's reign end soon:- Though Italy's longest serving prime minister Berlusconi has vowed to step down, his reign may not end so soon, believe opposition leaders. Berlusconi is expected to ask the president for early elections, opposition parties are already pushing Napolitano to form a national-unity government so that immediate steps can be taken to manage Italy's debt.
Antonio Di Pietro, leader anti-corruption Italy of Principles party, was quoted by The Guardian as saying, Berlusconi is just “taking another month to try to buy a few parliamentarians."
Likewise, Giacomo Marramao, a political philosophy lecturer at Rome 3 university, told AFP, “We
Even if the embattled prime minister resigns, it doesn't mean he cannot contest elections in future. But considering the corruption and sex scandals, and criticism he is facing for handling Italy's economy, this is unlikely. Giacomo Marramao, a political philosophy lecturer at Rome 3 university, told AFP, “We have to take into account the character and nature of Berlusconi. He will discuss his resignation only if he receives guarantees for his companies, for his security, particularly in a legal sense.”
Possible outcome:- If the parliament approves austerity package and the controversial leader resigns, Napolitano would begin talks with parliamentary leaders on whether to appoint one of Berlusconi's aide as the new prime minister, or create a new government with current political assembly, or go for early elections before end of government's tenure in 2013. The news of resignation came after the 75-year-old politician met President Giorgio Napolitano Tuesday evening to discuss his future after the parliamentary vote.
While Berlusconi is expected to ask the president for early elections, opposition parties are already pushing Napolitano to form a national-unity government so that immediate steps can be taken to manage Italy's debt.
Here you can get the latest updates about Personal Finance News. For more details feel free to visit www.themoneytimes.com stock market updates .