After a very tense day for Italy yesterday which involved Berlusconi losing the majority in the Camera dei Deputati (the Italian parlament's lower house, he still retains a majority in the Senato, the upper house) by obtaining 308 votes instead of the required 316 during a vote on the budget. In a meeting with the Italian president, Giorgio Napolitano, Berlusconi promised to reisgn as soon as the financial stability law was passed.
So now it all depends on how soon that law will be passed. Napolitano is reported to have said today that Belusconi will resign within a "few days", instead of the two weeks that was expected go by yesterday before the law was passed. He is also calling on either a new government to be formed, or elections to be called. Berlusconi has declared that he won't run if new elections are called, and his Popolo della Libertà party aren't too keen on the idea of early elections.
I'm no expert on politics, but at this point it doesn't seem very clear what exactly will happen once this new law is passed. The Popolo della Libertà's coalition partners, the Lega Nord, are calling for elections as well as Berlusconi himself, even though he has said he won't run. The opposition has yet to name a candidate for their coalition, and the view of ordinary members who want Berlusconi to leave is very skeptical. For the public it has to be seen to be believed to put it simply.
So for now the prosecco's going back in the fridge...