Mario Monti is the new Prime Minister in Italy, replacing Silvio Berlusconi, who resigned last week-end, amid street celebrations in the country. Monti's challenge will be to steer Italy out of crisis. He is expected form a technocratic Government that will work together with the European Union to get Italy out of debt. His naming as head of the Italian Government is likely to receive a vote of confidence in Parliament on Monday.

Monti said in a statement that his government would work to "restore the financial situation and promote growth with a focus on social fairness."

Monti, 68, is an Italian economist and politician. He served as European Commissioner for the Internal Market, Services, Customs, and Taxation from 1995 to 1999 and then as European Commissioner for Competition from 1999 to 2004.

Berlusconi started his political career 20 years ago. He has been in office three times, between 1994 and 1995, between 2001 and 2006 and since 2008. He has held several other ministerial seats in the meantime. He is also known for his investments in the real estate industry and in media, as well as for making headlines in tabloids for his promiscuous relationships and infidelities.

After announcing his resignation, Berlusconi released a video message to the nation, saying that he was saddened that his "gesture of generosity and responsibility" in resigning was met with "whistles and insults." He also said he would support the new Government and that his political life was not over, hoping to return to cabinet one day.

editor@romania-insider.com