Italy’s Berlusconi resigns

Story by MSNBC

ROME — Italian Premier Silvio Berlusconi (photo above) resigned Saturday after parliament's lower chamber passed European-demanded reforms, ending a 17-year political era and setting in motion a transition aimed at bringing Italy back from the brink of economic crisis.

A chorus of Handel's "Alleluia," performed by a few dozen singers and classical musicians, rang out in front of the president's palace as thousands of Italians poured into downtown Rome to rejoice at the end of Berlusconi's scandal-marred reign.

Hecklers shouted "Buffon, Buffon!" — buffoon in Italian — as Berlusconi's motorcade pulled out of his residence and into the presidential palace across town, where he tendered his resignation amid weeks of market turmoil.

Former European commissioner Mario Monti remained the top choice to try to steer the country out of its debt woes as head of a transitional government. Napolitano is expected to meet Sunday with Italy's political forces before deciding how to proceed.

Earlier, the Italian parliament gave final approval to a package of economic reforms in a vote that cleared the way for Burlusconi's resignation and the formation of an emergency government.

Berlusconi, who failed to secure a majority in a crucial vote on Tuesday, promised to resign once parliament passed the law, demanded by European partners to restore market confidence in Italy's strained public finances.

The package cleared the Senate on Friday and the lower house on Saturday, marking the final act of the Berlusconi government.