Italian President Giorgio Napolitano has accepted the resignation of outgoing Prime Minister Enrico Letta and will immediately begin formal consultations to form a new government and complete them by Saturday, a statement from Napolitano’s office said. He is expected to ask center-left leader Matteo Renzi to form a government, after Renzi’s center-left Democratic Party, the largest party in the ruling coalition, withdrew its backing from Letta on Thursday.According to the Italian news agency (Aki) informed sources said that the new government formation is finalised and its members are expected to be sworn in by Monday.