Italy crisis: President Napolitano agrees to stand again

Italian President Giorgio Napolitano has agreed to run for office again to resolve a growing political crisis, after an appeal by the main parties.

"I consider it necessary to offer my availability," said Mr Napolitano, 87, who was due to step down next month.

The parliament earlier failed in its fifth attempt to elect a new president. The next vote is expected shortly.

A caretaker government has been governing Italy following February's inconclusive general elections.

The political deadlock has compounded concern about the stability of Italy whose economy, the third-biggest in the eurozone, is mired in recession.