Italy PM Enrico Letta resigns: Statement
ROME (AFP) - Italian Prime Minister Enrico Letta resigned on Friday in a fast-paced political drama in Rome that paves the way for 39-year-old centre-left leader Matteo Renzi to take his place.
Financial markets cheered as Mr Letta submitted his resignation to President Giorgio Napolitano after just 10 tumultuous months at the head of a fragile coalition with the centre-right in which he struggled with a rampant economic crisis.
Mr Napolitano will now begin consultations with political leaders to pick a nominee to replace Mr Letta, which the presidency said would conclude on Saturday.
Mr Letta was forced to announce his resignation on Thursday after his own Democratic Party overwhelmingly backed a motion by its new leader Renzi calling for a new government.