Eurozone crisis live: Mario Monti's resignation pledge spooks markets Italy's Prime Minister Mario Monti. Photograph: Lionel Cironneau/AP Mario Monti's pledge to resign as Italy's prime minister is sending shivers through the financial markets already today. Italian sovereign debt is being sold off in early trading, pushing up the yield (the measure of borrowing costs) sharply. The yield on Italian 10-year bonds has jumped to 4.79% already, from 4.54% on Friday night. That's a significant move (although still a long way from the ' 7% danger zone' where a country's borrowing costs become unaffordable). Spanish bonds are also falling in value as the political uncertainty in Italy reverberates across the Eurozone periphery. The trigger for the sell-off is Monti's decision to resign following the loss of support from SIlvio Berlusconi's Freedom People party. Monti declared over the weekend that he will tender his resignation as soon as the 2013 Italian budget has been approved by parliament. As my colleague Tom Kington wrote from Rome: I'll be tracking reaction and latest developments in Italy through the day, along with other key events across the eurozone and the wider economy.