Italian P.M. Monti Resigns

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.