Italian Parliament Approves Austerity Package

At New York Times, "Berlusconi Steps Down, and Italy Pulses With Change" (via Memeorandum).

And at Bloomberg, "Berlusconi Resigns as Monti Prepares New Italian Government." Also, at Telegraph UK, "Silvio Berlusconi finally resigns as Italy's prime minister, to cheers from supporters and jeers from foes":

Silvio Berlusconi has resigned as Italy's longest-serving post-war prime minister, bringing to an end a tumultuous, 17-year political career which was marred by sex scandals, corruption allegations and gaffes on the international stage.

His departure came hours after the country's lower house of parliament approved, by a margin of 380 votes to 26, an urgently-needed package of economic reforms designed to tackle the country's €1.9 trillion debt, revive its sluggish economy and prevent it from going the way of Greece.

After the vote, the 75-year-old billionaire media baron held a final meeting with his cabinet, and was then driven home to his official residence. There he consulted with party advisers, the final step before going to the presidential palace, on Rome's Quirinale Hill, where he gave his resignation to Italy's 86-year-old president, Giorgio Napolitano, a former Communist.

The president released a statement saying that consultations on forming a new government would start on Sunday.