09 Nov, 2011

The Italian Prime Minister, Silvio Berlusconi, has confirmed that economic reforms will be implemented, after which he will resign after three terms in office.

He has confirmed that following the reforms, called for by the European Union, there will be an election in Italy – one from which he will be absent.

According to Reuters, Berlusconi commented: “We have to give Europe and the world an urgent, strong signal that we are taking things seriously.” He also said that his decision, which has been called for by many for weeks, was a ‘gesture of responsibility’ to Italy.

The budget reforms will be implemented in a bid to prevent Italy from falling into a debt crisis so severe that it would threaten the entire euro zone.

According to Reuters, Berlusconi told La Stampa newspaper : “I will resign as soon as the (budget) law is passed, and, since I believe there is no other majority possible, I see elections being held at the beginning of February and I will not be a candidate in them.”

He added that PDL party secretary and former justice minister Angelino Alfano would be the centre-right’s candidate for prime minister, reported Reuters.

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