Italian PM Letta Announces His Resignation
TEHRAN (Tasnim) - Italian Prime Minister Enrico Letta said he will resign after his own party voted for a change of government.
Letta will tender his resignation to Italy's president Giorgio Napolitano on Friday, opening the way for centre-left Democratic Party (PD) leader and Florence Mayor Matteo Renzi to replace him.
The decision to resign came after the party supported a call by 39-year-old Renzi for a more ambitious government to pull Italy out of its economic slump, AFP reported.
The party thanked Letta for his "positive work" but called for "a new phase with a new executive".
Ever since being elected to lead the party in December, the ambitious and media-savvy Renzi has accused Letta of dragging his feet on crucial political reforms and failing to do enough to combat rampant unemployment.
"Italy cannot live in a situation of uncertainty and instability. We are at a crossroads," Renzi told the 140-strong leadership committee.
Letta did not attend the PD meeting, saying he wanted his party to decide freely whether to continue supporting him.
President Napolitano is expected to call on Renzi to form a new administration.
Growing criticism over the slow pace of economic reform has left Letta, a low-key moderate appointed to lead the coalition patched together after last year's deadlocked elections, increasingly isolated.
"People have accused me and the PD of having an outsize ambition. I don't deny this. We all need to have this, from me to the last party member," Renzi said in his speech to the PD's leadership committee. "I am asking you to help us get Italy out of the mire."
The latest bout of turmoil in Italy, the euro zone's third-largest economy, has so far had little impact on financial markets, in contrast with the volatility seen during previous crises, such as the stalemate after last year's election.