Tag Archives: Mario Monti

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ITALY’S PM MONTI ‘TO RESIGN”. SILVIO BERLUSCONI TO RETURN TO POLITICS

Italian PM Mario Monti has said he intends to step down as Prime Minister, after he lost the support of the parliament, earlier this week.

Silvio Berlusconi’s center-right party People of Freedom withdrew their support for the Prime Minister, making him feel as though he no longer has the support of the Parliament.

Monti has said he will resign immediately if he can quickly pass next year’s budget through parliament. Some believe the withdrawal of support by the People of Freedom Party was an attempt to undermine Monti’s ambitious debt reducing budget.

Disgraced former PM Silvio Berlusconi has said he will run in elections early next year. The media tycoon is still facing charges of underage sex, and was convicted for tax fraud earlier this year. He is currently appealing his conviction.

Read More: Italy’s PM Monti “to resign” France 24
Silvio Berlusconi confirms return to politics France 24

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Cities in Italy at Risk of Bankruptcy

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There are ten Italian cities facing a high risk of bankruptcy. Most of them are in the south of the country, and have long histories of financial mismanagement, corruption and mafia infiltration. However, there are some from the more prosperous north.

The warning comes after Mario Monti, the Italian Prime Minister, warned that the Italian island of Sicily is at risk of default. Sicily has a high degree of financial autonomy, but the Italian government are poised to take over the financial affairs of the island.

Default for these cities could mean trash is uncollected and schools fail to reopen after the summer vacation.