Monti, Mario (1943-…), served as prime minister of Italy from November 2011 to April 2013. Monti replaced long-time Prime Minister Silvio Berlusconi. Berlusconi had resigned amid numerous scandals and a failing economy. Soon after becoming prime minister, Monti passed a package of spending cuts and tax increases in an attempt to avoid a debt crisis. Monti also served as Italy’s minister of economy and finance.
Monti was born on March 19, 1943, in the far northern town of Varese. The son of a banker, Monti studied economics at Milan’s Bocconi University and at Yale University in Connecticut. He taught economics at Bocconi and the University of Turin. In 1989, Monti became the rector (director) of Bocconi University. He was Bocconi’s university president from 1994 to 2011. From 1995 to 2004, Monti served two terms as European Union (EU) commissioner.
On Nov. 9, 2011, Monti was named a senatore a vita (senator for life) in the Italian Parliament. The president of Italy appoints life senators “for outstanding merits in the social, scientific, artistic, or literary field.” On November 16, following Berlusconi’s resignation, Monti became prime minister.
