Italian Prime Minister Silvio Berlusconi could resign as early as next week.
He confirmed to one of his TV stations last night that he will step down, as soon as he has managed to get approval for a new package of key economic reforms that Europe is seeking.
Yesterday, the Prime Minister failed to secure a majority in a vote over his budget reforms.
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Borrowing rates have shot up in recent days, prompting concern over whether Italy will be able to service its debt.
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