11/12/2011 05:05 pm ET | Updated Jan 12, 2012

Berlusconi Resignation: Crowds Celebrate After Italy's Prime Minister Steps Down (PHOTOS)

Silvio Berlusconi, Italian Prime Minister, has resigned from his position after 17 years in office.

News of the Berlusconi's resignation was no surprise to crowds gathered in front of Italy's presidential palace in Rome on Saturday, Nov. 12. People cheered, chanted and some even performed Handel's "Alleluia," the Associated Press reports.

Economist Mario Monti is expected to replace the 75-year-old media mogul, whose reign was filled with scandal and financial woes. Italian president Giorgio Napolitano will oversee the transition.

Click through the slideshow below to see how crowds reacted to Berlusconi's resignation.