By Marcus Leach

The long saga centring around Italian Prime Minister Silvio Berlusconi may well be coming to an end after he said he will resign if his economic reforms are passed.

The announcement comes after a parliamentary vote on the Italian budget seemed to suggest Berlusconi had lost his majority.

As Italy's worsening debt crisis continues to grow both allies and opponents have been urging Berlusconi to step down from his role.

Borrowing rates have shot up in recent days, raising concerns over whether Italy can service its debts, with Italian bonds reaching a ten year high.

There are serious fears that Italy could be the next country to fall in the eurozone debt crisis, and should the proposed reforms be approved Berlusconi will officially step down.

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