Italian president takes up the reins

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Italian president takes up the reins

Italian president takes up the reins
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With Italian Premier Silvio Berlusconi set to step down within days the country’s president has stepped in.

Giorgio Napolitano says there will be no delay in passing economic reforms aimed at financial stability, and opposition figures say they will not stand in the way.

Walter Veltroni is a member of the Democratic Party.

“The parliament must immediately pass the stability law. Of course it’s the government’s responsibility to pass it quickly but we won’t put obtacles in the way. Berlusconi resigns and immediately afterwards we must hand over to a government able to guarantee to the country the minimal conditions of stability and security that are compromised today”.

And that is basically how the president sees it too. Berlusconi will go, he says, after the reforms are passed. Then it is either elections or the formation of what has been dubbed a “technical government”.

Napolitano named former European Commissioner Mario Monti as a senator for life on Wednesday, leading to speculation that he might be the one to lead such a cabinet.

The government of technocrats would then steer Italy through to new elections in 2013.

What is happening in Italy is not just a concern for its politicians, ordinary people are also waiting to see what happens next.

“It’s worrying for the new generations” said one woman, “so something should be done now to prevent the new generations from having no future because that’s what they’re risking, no future.”

Record borrowing costs, record debts and political turmoil. All in all it adds up to a sad lament for the European Union’s third largest economy.