Italian PM Mario Monti Intends To Resign After Passing Budget After Losing Support From Berlusconi's Party

Italian PM Mario Monti has said he plans to resign after passing Italy's 2013 budget.

Multiple outlets, including Bloomberg, are reporting the news.

The gist is that last week, Silvio Berlusconi's party withdrew its support for Monti (a technocrat, caretaker PM, who was never elected).

Below is translated version of the statement that came out of the Italian President's office. The translation is sloppy, but the gist is that Monti sees that he has lost the majority.

All that being said, the real news is already known: That Berlusconi intends to content for the PM office in elections that are coming up in a few months. This doesn't change the calendar that much.










[link to www.businessinsider.com]