13 Nov '11, 3am

Italian Prime Minister Silvio Berlusconi was set to resign early this morning

ROME - Italian Prime Minister Silvio Berlusconi was set to resign early this morning (Singapore time) after a new Budget law is approved in Parliament, making way for an emergency government expected to be headed by former European Commissioner Mario Monti. Mr Monti would have the task of trying to form a new administration to manage a widening financial crisis that has put the future of Europe's single currency at risk. The Lower House of Parliament began debating a package of economic reforms ahead of a vote due after 1500 GMT (11pm, Singapore time). Mr Berlusconi is expected to hold a last Cabinet meeting before going to the Quirinale Palace and handing his resignation to President Giorgio Napolitano. Mr Monti yesterday met the new head of the European Central Bank, Mr Mario Draghi, and leaders of the centre-left opposition. Even before the transition, signs of oppositi...

Full article: http://www.todayonline.com/World/EDC111113-0000030/Berlus...

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