Prime Minister Berlusconi Resigns

Prime minister of Italy, Silvio Berlusconi, eventually resigned from his post. He retreated shortly after meeting with Italian President Giorgio Napolitano, in Rome, Saturday, November 12, 2011.  The resignation made to allow emergency government in order to save Italy from the financial crisis. Silvio Berlusconi's resignation immediately greeted by the cheers of thousands of citizens who crowded the center of Rome. They want to see the fall of the prime minister in no uncertain middle european currency and market volatility that occurred in the past week. The resignation of Silvio end 17-year era of political turbulence and in the middle of a movement to make the transition government that aims to bring the country out of the abyss of economic crisis. More than a thousand demonstrators waved banners mocking Berlusconi as he walked toward the residence of the President at the Quirinale Palace.

They rejoiced to welcome the resignation of Berlusconi. People singing, dancing and partying champagne. "We are here to rejoice," said one of the protesters, as quoted as quoted by Reuters news agency.

Demonstrators, who chanted "resign, resign, retreat", also gathered outside the prime minister's office and parliament, the minister mocked as they walk between two buildings. The pro-Berlusconi also gathered outside his residence. But the amount they lost a lot.

After the resignation, hundreds of people shouting "jail, prison, prison." Initially the intention of Berlusconi's resignation came hours after the Italian parliament on Tuesday approved the reform of the budget through the first phase of polling.

According to the news station CNN, Berlusconi's resignation will take place no later than the first week of December 2011, or after the voting took place the final stages of budget reform.

However, the telecommunications conglomerate that could be forced to step down more quickly when the market re-raise the interest rates of bonds of Italy, which has reached record highs.

According to BBC news station, Italy's debt is now $ 1.9 trillion euros, or about U.S. $ 2.6 trillion. Considering Italy is the third largest economy in the euro zone, this crisis could have an effect to other countries using the currency when the crisis worse.

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