Italian Prime Minister Silvio Berlusconi’s Resignation and its impact on Italy

Italian Prime Minister Silvio Berlusconi’s Resignation and its impact on Italy

Slowly and gradually, now former Prime Minister of Italy, Silvio Berusconi, resigned as the country’s premier after much public and private pressure on him as his nation faced a crisis which has affected the governments of many regions around the world,
a debt crisis.

Berlusconi tendered his resignation after travelling to the presidential palace on Saturday, November 12, 2011, after 17 years at the country’s top government position, which has surely ended one of the longest and controversy filled chapters in Italy’s
political history.

“This is the most dramatic moment of our recent history,” Ferruccio de Bortoli, the editor of the Milan daily newspaper Corriere della Sera, said Saturday.

Many citizens came out onto the streets after the news regarding his resignation broke out and cheered with joy and hope of a new government that will be able to solve the nation’s financial problems.

Seeing Berlusconi resign is not surprising at all and was something that had been expected over the past few months as the European zone entered into further and deeper financial turmoil. With the finance sector throughout the world suffering due to the
depression and many other factors, heads of nations around the world are facing more and more pressure from all sides.

Throughout his career, Berlusconi was involved in several trials, including fraud, corruption and sexual accusations which included having intercourse with an under-age girl. He was also alleged of having contacts with underworld gangs and mafia relations,
which gave him the name of “Gangster”, within the Italian community.

With such accusation, Berlusconi still stood firm in his position until now.

While there is a large group of financial experts who say that the current financial crisis will not be averted just by changing governments, the country’s President, Giorgio Napolitano, has announced that he is in contact with experts on the formation of
a new government, which could include many technocrats to handle the sensitive issues.

Ex-EU commissioner, Mario Monti, is reported to be the top pick for the country’s highest position in government, but it is also said that he will face opposition in the parliament if selected without proper consultation.

Currently, Italy has a public debt amount of $2.3 trillion. Seeing whether or not the newly imposed government can work in order to avoid a financial catastrophe will be interesting and if not, Berlusconi will certainly be the one to have the last laugh.
 

Short URL: https://www.newspakistan.pk/?p=3393

Posted by Syed Hassan Bokhari on Nov 13 2011. Filed under Europe, Latest News, Politics, World. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry