Italy’s PM resigns, paving way for early election

Italy’s Prime Minister Mario Monti  has  resigned after parliament gave final approval to the 2013 budget law.

The 69-year-old economist handed in his formal resignation to President Giorgio Napolitano, who is expected to call early national elections within 70 days of the parliament dissolution, possibly on Feb. 24,according to Xinhua.

In the lapse of time between Monti’s resignation and the vote, the caretaker government remains in office only to take care of ordinary administration.

Earlier this month, he had announced early resignation after losing support of former premier Silvio Berlusconi’s center-right People of Freedom (PdL) party, the biggest group in parliament.

“The President of the Republic took note of the resignation and called on the government to remain in office for the ordinary administration,” a statement from the presidential office said late on Friday.

It added that Napolitano will hold consultations on Saturday with parliamentary and party leaders before he dissolves parliament, likely at the weekend, and sends Italians to the polls, probably on Feb. 24.

Speaking to a meeting of ambassadors in Rome, Monti said on Friday that his 13-month office was “difficult but fascinating” and “the situation of Europe and the eurozone has greatly improved, also thanks to Italy.”

Monti said he had appreciated that “growth was seen not only in economic terms, but was also regarding the increased authority and credibility of Italy at the international level.”

His unelected government has managed to steer the Mediterranean country away from the center of the eurozone crisis through introducing a range of painful austerity measures to tackle huge public debt.

European business communities and partners have increasingly pressured the resigning premier to take the field over the past weeks, but he has kept his own programs a secret.

Monti is set to hold a press conference on Sunday and announce his decision. He is supposed to endorse a coalition of centrist moderate figures or present a program that the next government should pursue to follow up with his austerity policies.

R.S