Italian P.M. Monti Resigns

Andreas Solaro, AFP / Getty Images

Italian Prime Minister Mario Monti takes a seat during a press conference on December 6, 2012 at Palazzo Chigi in Rome.

Mamma mia! Italian Prime Minister Mario Monti officially resigned from his post on Friday, His departure comes as Parliament overwhelmingly approved a budget, investors displayed confidence in his economic decisions and his efforts to bring down borrowing succeeded. Monti planned to retire in mid-2013 after replacing former prime minister Silvio Berlusconi after his resignation last year. Now, scandal-ridden Berlusconi has announced that he intends to run for reelection this coming year.