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Italian budget approved

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Italian budget approved
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The Italian parliament has approved Mario Monti’s 2013 budget, paving the way for his resignation.

The budget, which was passed with a wide majority, had already been voted through in the upper house, the Senate, on Thursday.

Mario Monti, the former European Commissioner who was appointed to rein in Italy’s public spending, will now tender his resignation to President Giorgio Napolitano who can order parliament to be dissolved.

Analysts believe the most likely date of the ballot will be February 24.