Silvio Berlusconi to step down as Prime Minister of Italy - Polidicks

[url]http://www.bbc.co.uk/news/world-europe-15646536[/url] [quote=BBC News][b]Italian Prime Minister Silvio Berlusconi has confirmed he intends to resign after key economic reforms have been approved.[/b] His announcement follows a vote in parliament on the budget in which he appeared to lose his majority. Both allies and opponents have been urging Mr Berlusconi to step down as Italy's debt crisis grows. Borrowing rates have shot up in recent days, raising concerns over whether Italy can service its debts. While Italy's deficit is relatively low, investors are concerned that the combination of Italy's low growth rate and 1.9tn euro (£1.63tn; $2.6tn) debt could make it the next country to fall in the eurozone debt crisis. The European commissioner for economic affairs, Olli Rehn, described the country's economic and financial situation as "very worrying". Mr Berlusconi has dominated Italian politics for the last 17 years. He has survived more than 50 confidence votes, but has recently become mired in a series of legal and sex scandals as well as the political and economic crises. [b]'Appropriate consultations'[/b] The euro rose sharply against the dollar following the news of Mr Berlusconi's decision. "Once this engagement is fulfilled, the prime minister will hand in his mandate to the head of state who will proceed with appropriate consultations, paying close attention to the positions and proposals of all political forces," President Napolitano said in a statement. Mr Berlusconi had shown "his awareness of the implications of the results of today's vote" as well as "concern for the urgent need to give prompt answers to the expectations of European partners", Mr Napolitano added. Correspondents say the budget law is expected to be passed by the end of the month, but may now be accelerated. Mr Berlusconi won Tuesday's vote, but only because the opposition did not take part. Only 308 MPs voted in favour, far below the 316 needed for an absolute majority. Both coalition ally Umberto Bossi of the Northern League and opposition leader Pierluigi Bersani had called on the prime minister to step down. The BBC's Alan Johnston in Rome says international money markets are now forcing Italy to pay interest rates that could eventually ruin it, putting extraordinary pressure on Mr Berlusconi. Doubt about Italy's governance and its ability to repay its debts have sent the markets seesawing over the past two days. On Tuesday, the cost of government borrowing spiked at a new record of 6.76% after the vote, around the 7% threshold at which Portugal and Ireland were forced to accept bailouts.[/quote]

About time.

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May he bunga bunga in peace

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[img]http://imgkk.com/i/t9ee.jpg[/img] [img]http://imgkk.com/i/5j4s.jpg[/img] [editline]8th November 2011[/editline] You know you fucked up when the Dollar and the Euro rise substantially upon news of your resignation

"On 2 July 2003, Berlusconi suggested that German SPD MEP Martin Schulz, who had criticised his domestic policies, should play a Nazi concentration camp guard in a film." Wow. "Two days after the 2009 L'Aquila earthquake, Berlusconi suggested that people left homeless should view their experience as a camping weekend. While touring the earthquake site, he asked councillor Lia Beltrami, "Can I fondle you?" Holy shit, this guy is amazing. Let him keep his job, I haven't laughed so much.

[QUOTE=MrEndangered;33186771]"On 2 July 2003, Berlusconi suggested that German SPD MEP Martin Schulz, who had criticised his domestic policies, should play a Nazi concentration camp guard in a film." Wow.[/QUOTE] I may have to use this as a comeback eventualy.

He may be funny as shit, but after ruining so much in his political career, the humour wears off.

Berlusconi said he decided to resign for the good of the country and to help settle uncertain financial markets. I've read it here please alloe me to share ot here, The questionable Berlusconi, Prime Minister of Italy, will not finish his scandal-rocked 3rd term. Berlusconi has been constantly dropping support in Italy’s parliament, and he has agreed to resign as soon as key economic reforms are approved. Article source: [URL="http://www.newsytype.com/13417-silvio-berlusconi-resigning/"]Silvio Berlusconi resigning as Prime Minister of Italy[/URL].