Italian Premier Silvio Berlusconi won a confidence vote Tuesday, but the result left him without a majority in parliament. Berlusconi’s main coalition ally had urged him to step aside ahead of the vote. Many investors believe a new government would enact more austerity measures that could help Italy cut its debt load and remain part of the euro.
Mr Berlusconi has lost his majority in parliament, with 308 voting for him on a budget vote seen as a test of his support. One abstained, and 320 others – the entire opposition – did not vote
The opposition showed that they have the majority but allowed a confidence vote to pass so that there can be an orderly resignation.