ROME — Italy's presidential palace has confirmed that Premier Silvio Berlusconi has resigned, setting in motion a transition aimed at bringing Italy back from the brink of economic crisis.
Cheers broke out in front of the palace by the hundreds of people who gathered to witness Berlusconi's final act in office, ending a 17-year political era.
An Italian news report says Premier Silvio Berlusconi's political party will conditionally support a technical government headed by economist Mario Monti.
Italy's president is expected to ask Monti to try to form a new government once Berlusconi's resignation is confirmed Saturday night. Monti will be tasked with trying to bring Italy back from the brink of a Greek-style economic crisis.
The LaPresse news agency quotes a statement issued after Berlusconi chaired a meeting of his People of Liberties Party, saying the party would tell President Giorgio Napolitano that it would back Monti. But it said the party would meet again to ensure that Monti's Cabinet, legislative agenda and the timeframe of his government meet its requirements.
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