Italian P.M. Monti Resigns

    Italian Prime Minister Mario Monti takes place during a press conference on December 6, 2012 at Palazzo Chigi in Rome. Supporters of former Prime Minister Silvio Berlusconi abstained from a confidence vote in the Italian Senate the same day on a critical new law in a first sign of rebellion against Prime Minister Mario Monti. AFP PHOTO / ANDREAS SOLARO        (Photo credit should read ANDREAS SOLARO,ANDREAS SOLARO/AFP/Getty Images)

    Andreas Solaro, AFP / Getty Images

    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.

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