Berlusconi to run for Italy PM again

Berlusconi made the announcement during a press conference on Friday in Milanello, near the city of Milan.

He also stressed that he was “running to win.”

    Earlier in the week, the 76-year-old politician issued a statement saying, “Many ask me to return, the country is on the brink of the abyss. The economy is on its last legs. I cannot allow my country precipitate a downward spiral without end.”


Berlusconi, who served as the country's prime minister from 1994 to 2011, resigned last November after coming under immense pressure to step down for mishandling the Italian economy. Since then, Mario Monti has replaced him as the premier of the recession-hit country.

Berlusconi has come under scrutiny in the past few years for a series of scandals, corruption trials and mafia involvement, which are said to be linked to his role as Italy’s head of the government.

Tough austerity measures, spending cuts, and pension changes, introduced by Monti’s government, have stirred serious concerns for many people in the debt-ridden country.

The government says the reforms are needed to create jobs, increase competition, and cut costs in the third largest eurozone economy, which has been slow to grow over the past decade.

Italy started to experience recession after its economy contracted by 0.2 percent in the third quarter of 2011 and by 0.7 percent in the fourth quarter of 2011.