Monti Resignation Expected Today

Italian Prime Minister Mario Monti will hand in his resignation to President Giorgio Napolitano after parliament approves the 2013 budget later on Friday, political and government sources said.

Monti this month lost the support of former Prime Minister Silvio Berlusconi’s centre-right People of Freedom (PDL) party which had backed his technocrat government in parliament. But Monti had already announced he would stand down as soon as the budget was passed.

He is due to hold a news conference on Sunday at which he is expected to say whether he intends to stand as a candidate in the election, likely to be held on February 24.

The lower house is expected to give final approval to the budget at around 5 p.m. (1700 GMT), wrapping up its last piece of business before Napolitano dissolves parliament.

The cabinet is expected to meet at 7 p.m and Monti could hand in his resignation to Napolitano immediately afterwards.

Reuters

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Dean Popplewell

Dean Popplewell

Vice-President of Market Analysis at MarketPulse
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell
Dean Popplewell

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