Italian Prime Minister Silvio Berlusconi is likely to resign on Saturday after a new budget law is approved in parliament for an emergency government, ending one of the most scandal-plagued eras of the post-war history.
Once Berlusconi steps down, former European Commissioner Mario Monti is expected to be given the assignment of forming a new administration to manage a widening financial crisis that has put the future of Europe’s single currency at risk.
The lower house of parliament started debate on a package of economic reforms intended to reverse a collapse of market confidence ahead of a vote due after 2000 PST.
Now-a-days, Europe is already facing financial crisis, while American debt crisis has also affected the continent.
Recently anti-capitalists protested in various European countries, deepening the financial crisis of Italy.