Silvio Berlusconi has tendered his resignation as Italian prime minister.

President Giorgio Napolitano accepted his offer and is likely to appoint technocrat Mario Monti his successor.

Mr Berlusconi lost his majority amid an acute debt crisis that threatens the eurozone. He promised to go once MPs had approved new austerity measures.

He is Italy's longest-serving post-WWII PM - having dominated political life for 17 years. His premiership has recently been marred by many scandals.

The BBC's Alan Johnston in Rome says Mr Berlusconi's journey to the presidential palace was an undignified one.

He was booed along the way, with demonstrators calling him a "buffoon".

The outgoing prime minister said he felt "embittered" after hearing the insults.

After losing his parliamentary majority on Tuesday, Berlusconi promised to resign after austerity measures, demanded by the EU and designed to restore markets' confidence in the country's economy, were passed by both houses of parliament.

Members of the lower house voted 380-26 with two abstentions on Saturday, a day after the Senate approved the measures that have now been signed into law.

After accepting Mr Berlusconi's resignation, Mr Napolitano is expected to formally ask Mr Monti or another candidate to form a government of technocrats.

Full report

From what I've read Berlusconi is a buffoon

At least Mr. Bunga Bunga got the EU's bill passed before handing it over to the interim government, and he had clue enough not to call for a referendum for the hell of it.  Barring any overnight screwups (always a possibility with European politics), we move higher tomorrow.

Good.  Now he'll have time to go to Larry Flynt's house!
::)

Good.  Now he'll have time to go to Larry Flynt's house!
::)


I thought Larry Flynt was going to his house

I thought Larry Flynt was going to his house


And vice versa, mostly vice.