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Italian Prime Minister Mario Monti has announced he would resign once next year’s budget is approved, saying he can no longer govern after Silvio Berlusconi’s party withdrew its parliamentary support for his technocrat government.

Hours earlier on Saturday, former Prime Minister Berlusconi, who was forced to resign last year amid a sex scandal and a debt crisis, said he will run for office again next year.

Clearly a move that will be welcomed by Italian prostitutes and comedy around the world. Bondholders might be a little more worried.