In the face of deteriorating economic prospects, Italian Prime Minister Silvio Berlusconi resigned and was replaced by economist Mario Monti, who promised that his new technocrat government could find a remedy to Italy’s debt woes and restore faith in the faltering economies of the eurozone.
Italy has struggled financially in the face of a high ratio of GDP to national debt, while Berlusconi’s reputation has been tarnished by sex and corruption scandals. Berlusconi took advantage of his power as prime minister in order to avoid prosecution for various charges, fraud, bribery and having sex with an underage prostitute and is facing an onslaught of criminal trials now that he no longer holds office. #
