(Image source: Al Jazeera)

BY JEREMY TRUITT
ANCHOR JAMAL ANDRESS


Italy’s Prime Minister Mario Monti has resigned after passing his 2013 budget, keeping a promise he made to step down once the budget made it through parliament.

Monti was appointed just over a year ago after his predecessor Silvio Berlusconi’s ouster amid Italy’s potential economic collapse as well as sex and corruption scandals. At the time, he laid out a vision for returning Italy to economic power.

“In a moment of particular difficulty in Italy, with both the European and international structures in turmoil...Our efforts will be aimed at renewing the financial situation and taking the path of growth within the framework of social fairness.” (Video via Al Jazeera)

Monti assumed power mostly because of his reputation as a technocrat, which couldn’t be further from the charismatic Berlusconi. It was believed he could push through the reforms needed to get the country back on track.

But Italian economists writing in Bloomberg say though that reputation did help achieve some change, ultimately the problem was bigger than Monti, stemming more from Italian culture than from policy.

Monti defended what he calls the “bitter medicine” of budgetary discipline, claiming his policies ensured that economic disaster was avoided.

“The work we did...has made the country more trustworthy... more competitive and attractive to foreign investors." (Via BBC)

Monti told reporters that from a political perspective, he has more freedom now that he’s resigned. Analysts say that could mean he plans to try for the position again, this time as an elected leader.

Berlusconi is currently out on $5 million bail and has been sentenced to 4 years in prison for tax evasion, but he confirmed he is still running to replace Monti. The vote is expected to take place in February.

Italy's PM Mario Monti Resigns Allowing New Elections

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Dec 21, 2012

Italy's PM Mario Monti Resigns Allowing New Elections

(Image source: Al Jazeera)

BY JEREMY TRUITT
ANCHOR JAMAL ANDRESS


Italy’s Prime Minister Mario Monti has resigned after passing his 2013 budget, keeping a promise he made to step down once the budget made it through parliament.

Monti was appointed just over a year ago after his predecessor Silvio Berlusconi’s ouster amid Italy’s potential economic collapse as well as sex and corruption scandals. At the time, he laid out a vision for returning Italy to economic power.

“In a moment of particular difficulty in Italy, with both the European and international structures in turmoil...Our efforts will be aimed at renewing the financial situation and taking the path of growth within the framework of social fairness.” (Video via Al Jazeera)

Monti assumed power mostly because of his reputation as a technocrat, which couldn’t be further from the charismatic Berlusconi. It was believed he could push through the reforms needed to get the country back on track.

But Italian economists writing in Bloomberg say though that reputation did help achieve some change, ultimately the problem was bigger than Monti, stemming more from Italian culture than from policy.

Monti defended what he calls the “bitter medicine” of budgetary discipline, claiming his policies ensured that economic disaster was avoided.

“The work we did...has made the country more trustworthy... more competitive and attractive to foreign investors." (Via BBC)

Monti told reporters that from a political perspective, he has more freedom now that he’s resigned. Analysts say that could mean he plans to try for the position again, this time as an elected leader.

Berlusconi is currently out on $5 million bail and has been sentenced to 4 years in prison for tax evasion, but he confirmed he is still running to replace Monti. The vote is expected to take place in February.

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