Italian Parliament is scheduled to select May 8 a president for a seven-year term before a new left-centrist government can be formed. Despite Tuesday's resignation of Prime Minister Silvio Berlusconi, Italy remains in political limbo and the presidential contest could be as bitter as the closely fought parliamentary elections. President Carlo Azeglio Ciampi is under pressure to ease the transition to a new government by standing for a second term, EuroNews commented. But the 85-year-old President has already indicated he is stepping down when his term ends on May 18. Ciampi is yet to open consultations on the formation of a government. In the meantime, he has asked Berlusconi to stay in office as a caretaker leader.