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Whoever succeeds Silvio Berlusconi as prime minister faces a series of Herculean economic tasks, economists say.
Barring a major surprise, all signs are pointing to former European Union commissioner Mario Monti to be the one to pick up the poisoned chalice, said Eoin Ryan, an analyst from IHS Global Insight.
Monti is widely expected to be nominated and approved as head of a transition government on Sunday or Monday.
His priorities would be to "turn around a chronically weak economy, ensure that Italy survives in the bond markets and the eurozone, and revitalize stalled reforms promised to the EU and International Monetary Fund”.
The international community should not expect too much from Monti because Italy is "critically ill" which can only be settled by a multi-pronged approach, which includes stopping issuing bonds and calling for international help, said Zhao Junjie, a senior researcher at the Chinese Academy of Social Sciences.
Zhao said that "The new prime minister will have to convince Italians to put up with tough austerity measures while pushing through urgently needed reforms to jump-start an ailing economy, while domestic politics will also be a big challenge for him.”
The prospect of 68-year-old Monti, whose skills as an economist are generally acknowledged, has been well received but the markets are still on alert.
Before Berlusconi's departure, the parliament on Saturday approved a series of anti-crisis measures to reduce the country's colossal $2.6 trillion debt and get Italy back on the road to growth.
But these measures, which include cutting the red-tape hampering businesses, selling off state assets, and carrying out reforms in the labor market, are only a start.
For many observers, the first area that needs attention is pension reform.
The qualifying age for a pension is due to rise from 65 to 67 in 2026.
Monti - or whoever takes up the reins of power - will also have to tighten the national purse strings still further.
This is another requirement from the EU which, along with the IMF and the European Central Bank, has been closely following the country's mounting economic difficulties.
Italy's unions have threatened to strike if the government tries to relax employment laws to make it easier to fire employees.
But despite the level of debt, the new premier will inherit an economy which, despite everything, has good foundations.
Experts explain that it should be clear that Italy does not at this time have a real problem on the purely economic level.
Italy's public deficit is forecast to be at 3.9 percent of GDP this year, less than many other European countries; the country's industry still has a strong and diverse export market; and household debt remains low.
Questions:
1. Who is Berlusconi’s most likely successor?
2. What is the current debt?
3. What will the qualifying age for a pension rise to in 2026?
Answers:
1. Mario Monti.
2. $2.6 trillion.
3. From 65 to 67.
（中國(guó)日?qǐng)?bào)網(wǎng)英語(yǔ)點(diǎn)津 Helen 編輯）
About the broadcaster:
Emily Cheng is an editor at China Daily. She was born in Sydney, Australia and graduated from the University of Sydney with a degree in Media, English Literature and Politics. She has worked in the media industry since starting university and this is the third time she has settled abroad - she interned with a magazine in Hong Kong 2007 and studied at the University of Leeds in 2009.
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