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Italy president asks Matteo Renzi to be next PM Italian president asks Renzi to form government
(about 7 hours later)
Italy's President Giorgio Napolitano has asked Matteo Renzi, the mayor of Florence, to form a new government.Italy's President Giorgio Napolitano has asked Matteo Renzi, the mayor of Florence, to form a new government.
Enrico Letta resigned as prime minister on Friday, after he was ousted in a vote called by Mr Renzi at a meeting of their centre-left Democratic Party. It follows the resignation on Friday of PM Enrico Letta after he was ousted in a vote called by Mr Renzi at a meeting of their centre-left Democratic Party.
Mr Renzi, who has never been elected as MP, will now have to come to a deal with Mr Letta's former coalition partners. The party had accused Mr Letta of failing to tackle the ailing economy.
He will begin talks on Tuesday and could be sworn in on Thursday. Mr Renzi, who has never been elected as MP, must now negotiate a deal with Mr Letta's former coalition partners and could be sworn in on Thursday.
Mr Renzi would become Italy's youngest ever prime minister, two months younger than Benito Mussolini when he came to power in 1922. At 39, he would become Italy's youngest ever prime minister.
In a separate development on Monday, Italy's borrowing costs dropped to their lowest rates for almost eight years. Ten-year debt bonds fell to 3.64%, seen as an apparent nod from the markets towards Mr Renzi's plans for economic reform. In another development on Monday, Italian government borrowing costs dropped to their lowest rates for almost eight years. The yield on ten-year bonds fell to 3.64%, seen as an apparent nod from the markets towards Mr Renzi's plans for economic reform.
Mr Renzi, the Democratic Party leader, spent some 90 minutes in talks with President Napolitano in Rome on Monday morning. The EU's economic chief Olli Rehn said he was confident Italy's political transition would be smooth and that the new government would continue to pursue economic reforms.
BBC Rome correspondent Alan Johnston said as he came out he talked of his commitment and determination and the need for urgency in reforms. 'Unemployment and despair'
Constitutional changes would be put forward by the end of February, labour reforms by March and improvements to bureaucracy the following month. As he emerged from talks with President Napolitano on Monday morning, Mr Renzi - the Democratic Party leader - talked of his commitment and determination and the need for urgency on reform.
"The most pressing emergency, which concerns my generation and others, is the emergency of labour, of unemployment and of despair," Mr Renzi told reporters."The most pressing emergency, which concerns my generation and others, is the emergency of labour, of unemployment and of despair," Mr Renzi told reporters.
Italy has a 41% rate of unemployment among 15-24 year-olds and a wider rate of 12.7%. Constitutional changes would be put forward by the end of February, labour reforms by March and improvements to bureaucracy the following month.
Italy has a 41% rate of unemployment among 15-24 year-olds and an overall rate of 12.7%.
Democratic Party colleague Maria Elena Boschi said it would take several days to form a new administration.Democratic Party colleague Maria Elena Boschi said it would take several days to form a new administration.
After being sworn in by the president, he would need to win votes of confidence in both houses of parliament.
Cabinet formation
Mr Renzi, 39, helped to engineer Mr Letta's ousting as prime minister after questioning the performance of his coalition government and accusing him of failing to implement promised reforms of what is seen as an often corrupt and wasteful bureaucracy.
The ex-prime minister had come under increasing pressure over Italy's poor economic performance and Mr Renzi argued that a change of government was needed to end "uncertainty".
Mr Letta's position became untenable once the Democratic Party backed a call for a new administration.
He only lasted 10 months in post after forming a coalition government with the centre-right last year.
Mr Renzi's initial priority will be to secure the support of the small New Centre Right (NCD) party in order to command a parliamentary majority and start cabinet building.Mr Renzi's initial priority will be to secure the support of the small New Centre Right (NCD) party in order to command a parliamentary majority and start cabinet building.
So far, the leader of the centre-right faction that formed the previous coalition with the Democratic Party and the centrists has given a guarded response to Mr Renzi's plans. Once he has formed a government, Mr Renzi will have to return to the president for his nomination to be confirmed and will then be sworn into office.
Angelino Alfano warned that the coalition remaining intact was "not a given" and told his party supporters he would demand promises from Mr Renzi before joining the new government. In order to win the support of both houses of parliament, Mr Renzi will need the backing of senators and deputies in both the NCD and the centrist Civic Choice, the former party of ex-PM Mario Monti, as well as other smaller parties.
An 'outsider'
Angelino Alfano, NCD's leader, has so far given a guarded response to Mr Renzi's plans.
He warned that the coalition remaining intact was "not a given" and told his party supporters he would demand promises from Mr Renzi before joining the new government.
"We are decisive for the creation of the new government. If we say no to this government, it won't come to life," he said. Italian media report that the two men have been in regular contact by text message over the weekend."We are decisive for the creation of the new government. If we say no to this government, it won't come to life," he said. Italian media report that the two men have been in regular contact by text message over the weekend.
The mayor of Florence has never been elected to parliament or served in government before and is viewed by many as an outsider.The mayor of Florence has never been elected to parliament or served in government before and is viewed by many as an outsider.
The BBC's Alan Johnston says Italy is desperate for political change and Mr Renzi's youth and dynamism, and his talk of the need for sweeping reform, have propelled him to the centre of the national stage. But the BBC's Alan Johnston in Rome says Italy is desperate for political change and Mr Renzi's youth and dynamism, and his talk of the need for sweeping reform, have propelled him to the centre of the national stage.
Democratic Party Senator Roberto Cocianich told the BBC that Mr Renzi had attracted widespread backing: "He is supported by many entrepreneurs, for instance the leader of the entrepreneurs union and by the unions as well."
However, in an apparent setback for Mr Renzi, a leading Italian businessman, Andrea Guerra, turned down the offer of a post in his government as economic development minister.
Mr Guerra, chief executive of the world's biggest eyewear company, Luxottica, wished Mr Renzi all the best in his efforts to form an administration but said he was needed by his company.
Rai TV reported that Emma Bonino was likely to be asked to remain as foreign minister.
Once he has formed a government, Mr Renzi will have to return to the president for his nomination to be confirmed and will then be sworn into office.
Then, in order to win the support of both houses of parliament, Mr Renzi will need the support of senators and deputies in both the NCD and the centrist Civic Choice, the former party of ex-PM Mario Monti, as well as other smaller parties.