“For many young Greeks, the election in Italy now provides a model. If the population of the third-largest economy in the euro zone so openly opposes the austerity measures, then the exit of individual countries from the euro zone is no longer taboo.” Der Spiegel
Italy will be holding another election, which puts the country in a dead calm until there is a functioning government. The key in Italy is the outsider and comedian Beppe Grillo whose party has put the government in dysfunction and in parallel has created a monster of an uprising against corruption within both political parties. The movement itself is larger than Grillo and may be the well-springs of copycat movements throughout southern Europe that threatens the euro and the establishment. It’s a disruptive a movement and would be like a Ron Paul to U.S. political parties. No matter the outcome, the bottom line is Italy will remain a drag on eurozone equity prices until there is a resolution.