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Troubles ahead: Italy's borrowing costs are already rising (Photo: Giampaolo Macorig)

Monti to resign after Berlusconi seeks comeback

Italian Prime Minister Mario Monti on Saturday (8 December) said he will step down after media magnate Silvio Berlusconi left him without a majority in parliament and announced he will stand again for elections.

After talks with Monti, the country's president, Giorgio Napolitano, issued a statement saying Monti "does not consider it possible to carry on his mandate and consequently made clear his intention to present his resignation."

The technocrat took over the reigns of power a...

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Troubles ahead: Italy's borrowing costs are already rising (Photo: Giampaolo Macorig)

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