Silvio Berlusconi, the longest-serving Italian Premier since World War II, stepped down on Saturday. His exit marks an end to a political career spanning almost two decades. The resignation of the three-time elected Premier in Italy came immediately after the parliament gave sanction to austerity measures to address debt crisis.
With Berlusconi’s big exit, President Giorgio Napolitano is now expected to appoint a new government, probably headed by a technocrat. The name that is coming up as the most likely candidate for the prime ministerial’s post is that of Mario Monti. His role as a respected economist and also as former European Commissioner gives him an edge over others in leading Italy through the current debt crisis and stepping up economic reforms. Monti is also said to enjoy the support of financial and European institutions.
The priority of the new government would be to step up measures to reduce Italy’s huge public debt (amounting to 1.9 billion Euros), steer its economy on the path of growth and to get back investors’ confidence in Italian economy.
Though Silvio Berlusconi’s party, Pasok, has given its support to Mario Monti, they might want to have a say in the composition of new cabinet.
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