Italy’s prime minister is stepping down.
On Tuesday, Silvio Berlusconi announced that he will resign.
His announcement came after a key vote in parliament indicated that he does not have the support of the majority of parliament.
Italy is in the midst of an “economic crisis” – the country has borrowed more money than it can pay. It has too much “debt.”
Other countries, like Ireland, Portugal and most recently Greece have had similar crises.
However, Italy’s problem is much bigger and arguably more of a problem for the whole European Union (EU). The European Union is a partnership of 27 countries in Europe.
Italy is more than $2.6 trillion in debt.