News Analysis: Berlusconi leaves office, big challenges wait for new Italian gov't
01.01.70
By Eric J. Lyman
ROME, Nov. 12 (Xinhua) -- Embattled Prime Minister Silvio Berlusconi formally resigned Saturday night after the lower chamber of parliament approved a new budget law, leaving most of the heavy lifting to be done in order to avoid Italy becoming the latest victim of Europe's fast-growing debt crisis.
Amid surging yields on Italian government bonds, fears the country might default on its debt, and sinking stock market indexes, Berlusconi last week told President Giorgio Napolitano he would step down after the passage of the reform package through both chambers of parliament.
In the evening of Saturday, crowds gathered outside of the Quirinale Palace, Napolitano's office, awaiting official word of Berlusconi's resignation, which will mark the end of a scandal-plagued era in Italy.
The 75-year-old leader's tenure had been marked by legal and personal controversy, but he was also the only post-World War II Italian prime minister to serve an entire five-year term, from 2001-2006, and his flamboyant and colorful style helped transform the way Italians saw their leaders.
Source: Xinhua