Search on for new Italian prime minister

Senior Italian politicians met in Rome Sunday to discuss a replacement prime minister after Silvio Berlusconi's resignation amid economic turmoil. President Giorgio Napolitano met with senior parliamentarians from the senate and lower house to discuss a non-elected leader as the country grappled with potentially catastrophic debt, CNN reported. Italian media said one of the prime candidates was former European Union Commissioner Mario Monti. Berlusconi's chief of staff, Gianni Letta and former Justice Minister Angelino Alfano were also considered likely candidates, the report said. Berlusconi, 75, resigned Saturday night after parliament passed austerity measures to address the country's $2.6 trillion debt. The flamboyant billionaire said he won't run for office in the next election. He won a third term in 2008 as leader of the new People of Freedom party. Emma Marcegaglia, head of the Italian business association, Confindustria, told CNN Italy is the world's eighth largest economy and forecast its resilience would win out. "We have many state assets and have lots of potential," she said. "But we have to survive this very difficult situation." Among the measures parliament has passed to trim debt are an increase hike in fuel taxes, a 1 percent increase in the national sales tax, sale of state assets and extending retirement ages for pension purposes.