Mario Monti Sworn In as Italian Premier
Mario Monti, an Italian economist, is officially the new Italian premier.
The Wednesday ceremony formally ends former prime minister, Silvio Berlusconi's, 3 1/2-year-old government.
Italian President Giorgio Napolitano presided over the ceremony at the presidential palace. The inauguration occurred just hours after 68-year-old Monti formed a new government that aims to rescue the country from financial disaster. The new administration was not comprised of a single politician. Monti instead appointed bankers, diplomats and business executives to ensure the nation avoids economic disaster. The cabinet members will be sworn in Wednesday, too.
During the ceremony, Monti promised to be faithful to the country, to observe the constitution and to work for the interests of the nation.
Monti was formerly a European Union competition commissioner. He told reporters that he will continue to serve as Italy's economic minister as well as premier.
The new premier stressed the importance of making Italy's economic growth as a top priority. Monti said that his first steps as premier would be to organize emergency anti-crisis policies in the Italian Senate on Thursday. If passed in the Senate, a second vote, in the lower Chamber of Deputies, will likely happen Friday.
The change in power ends Berlusconi's 17-year-long involvement in Italian politics. Berlusconi officially stepped down as Italian Prime Minister Saturday amidst four criminal trials, accusations of underage sex, abuse of power, bribery and embezzlement.
According to ABC News, Berlusconi faces about 40 different court hearings through May 2012.
When Berlusconi resigned Saturday, thousands of people cheered and danced in the streets of downtown Rome. Several dozen singers and musicians performed "Alleluia" to rejoice the end of his reign. Italians packed downtown to witness the fall of Berlusconi's government after a week full of market turmoil that threatened to tear apart the eurozone.
The Associated Press contributed reporting to this story.
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