Italian Prime Minister submits resignation

On the evening of November 12 (early morning of November 13, Vietnam time), Italian Prime Minister Silvio Berlusconi submitted his resignation to the country's President Giorgio Napolitano, paving the way for the formation of a new government.

According to Italian press, President Napolitano has accepted Mr. Berlusconi's resignation and will likely appoint former European Commissioner Mario Monti as Mr. Berlusconi's successor.

Italian Prime Minister Silvio Berlusconi.

President Napolitano is expected to consult with party leaders in Italy on November 13 before making an official decision.

Previously, with 380 votes in favor, 26 votes against and two abstentions, the Italian House of Representatives (630 seats) officially passed the Financial Stability Bill, which includes a series of economic reform measures that Prime Minister Berlusconi's government committed to the European Union (EU) last month.

On November 11, the Italian Senate also passed this bill with 156 votes in favor and 12 votes against.

The Italian press reported that the above-mentioned reform measures, including the sale of state assets worth about 21 billion euros, raising the retirement age from the current 65 years old to 67 years old by 2026, increasing value-added tax (VAT) and fuel prices, stopping wage increases in the public sector until 2024, reforming the labor market, tax exemptions for infrastructure construction projects and companies employing young workers, were introduced to cut Italy's huge public debt of 1,900 billion euros as well as promote economic growth.

Mr. Berlusconi announced on November 8 that he would resign after the Italian Parliament passed the above bill.

According to VNA/Vietnam+