Silvio Berlusconi and next Italian Prime Minister betting

Pressure continues to grow on Italy's longest-serving post war Prime Minister, Silvio Berlusconi (4/7 Berlusconi to resign by end of 2011). The 75-year old has been plagued by a series of scandals over the past year and growing concerns over the state of the Italian economy have led to increasing calls for his resignation.

Despite last week surviving a vote of confidence in Parliament, reports today have suggested that he has agreed a secret pact with his Northern League coalition partners to stand down in December or January. However, his office has denied the existence of such an agreement.

If the rumours are true, Italy will be set to elect a new government in March. One unlikely candidate is Luca di Montezemolo, the multi-millionaire chairman of Ferrari (5/1 Di Montezemolo next Prime Minister of Italy). However, he will likely face strong opposition from former EU Commissioner Mario Monti, finance minister Giulio Tremonti and the current leader in the polls, Nichi Vendola.

Meanwhile, the Italian economy continues to struggle under the burden of its €1,900bn debt. The fate of the world's eighth largest economy hangs in the balance as European Union leaders continue to encourage the Italian cabinet to implement needed reforms and avoid a financial collapse (5/2 Italy next country to receive EU bailout).

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