After the Italian Lower House of Deputies approved the austerity measures required by the European Union and the European Central Bank to protect the country from following Greece's steps into deep crisis, the political instability seen in Italy comes to an end as Silvio Berlusconi resigned and the Former European Union Commissioner, Mario Monti became the fresh premier.

Mario Monti will lead the new government now, while he attempts to restore confidence and protect Italy from the debt crisis by showing commitment and ability to cut the euro-area largest amount of debt.

Yesterday, Monti said after meeting the Italian President In a particularly difficult moment for Italy, in a very turbulent European and international landscape, the country must prevail in the challenge of redemption, he added that Italy must once again be an element of strength, not of weakness, in the European Union, which we helped found and in which we must be protagonists.

Monti is expected to restore investors' confidence and prove that Italy is able to cut its 1.9 trillion-euro debt and bolster the sluggish growth.