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Story | Nov 16, 2011 | 12:45 PMItaly has announced that economist Mario Monti will serve as prime minister for the upcoming months, and possibly for a year or longer. Mr. Monti does not belong to a specific political party and was not directly elected by the public in general elections but rather was placed in the Senate as a "member for life" by Italian President Giorgio Napoletano on Nov. 9, with the expectation that he would serve in a governing capacity once Prime Minister Silvio Berlusconi resigned.