Berlusconi says he will not run for PM again

PanARMENIAN.Net - Italy's Silvio Berlusconi says that he will not run again for the premiership at elections early next year and will hand his People of Freedom party over to a successor, Courier Mail reports.

"I will not be presenting my candidacy but I will remain at the side of younger people who can play and score goals," said the media magnate, who founded the party in 2009 and is famous for talking politics in football terms.

The 76-year-old tycoon, who owns AC Milan football club and three national television channels, said in a statement that his successor would be appointed by the end of December following a party vote.

"I still have good muscles and a head on my shoulders, but my role will be to give advice", he said, adding that the vote may take place December 16.

"For the love of Italy one can do crazy and wise things. Eighteen years ago I came onto the scene, a mad move that did not lack wisdom: I now take a step back," the billionaire said, putting to an end speculation over his return.

Berlusconi said it was now up to the party secretary Angelino Alfano "and a new generation of young people to reproduce the miracle of 1994" when the man famed for his love of wild parties was first appointed prime minister.