Italian Prime Minister Silvio Berlusconi has presented his resignation, on Saturday evening, to President Giorgio Napoletano, while hundreds of demonstrators were chanting in front of the presidential palace: “Shame!”, “Buffoon” and “It’s over”. The departure of the Prime Minister was expected in Rome this week, when Berlusconi promised that he would resign if the Parliament will approve the package of austerity measures demanded by the European Union.
“Il Cavaliere”, 75 years old, has left the building immediately, compelled to use a secret exit, while thousands of demonstrators cheered and waved flags at the main entrance to the palace. Italian MPs have finally adopted the measures as promised to the European Union to reduce the debt and re-launch economic growth, so Prime Minister Silvio Berlusconi announced his resignation as promised earlier this week. Favorite to fill the seat of prime minister is a former European Commissioner Mario Monti, who has the difficult task of calming financial markets and reduce the huge debt of Italy, 2 trillion euros.
Right-wing leader for the past 17 years, Berlusconi has been the Italian dream of many people on the peninsula. In fact, millions of young people grew up with Berlusconi at the forefront of politics, even when he was in opposition.
The Economist: “Berlusconi, the man who destroyed a nation. Unreformed, Italy will become the new black sheep of Europe”.
IL Cavaliere pays now for his very colorful personal life, but especially for economic mistakes that translate in a simplistic way in 2 trillion debt. That is a mountain of money, which is hard to believe that Italy will be able to give back. The ungrateful task to redress the finances of Rome II will be given to economist Mario Monti. He should calm financial markets, the euro area and U.S. leaders.
The General Manager of the IMF, Christine Lagarde, welcomed the “significant political progress” recorded in Italy, adding that she met Monti personally. “I know well Mario Monti, I have a great esteem for him, and I think he is a man of great quality with whom I had a fruitful and warm dialogue”, said Lagarde.
Another indication of Monti’s nomination is that the new president of the European Central Bank, Mario Draghi, paid a visit on Saturday to his compatriot.