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IPFS News Link • Economy - International

ITALIAN STOCKS PLUNGE NEARLY 5% — Borrowing Costs Surge After Upset On Election Night

• Business Insider
 The benchmark FTSE MIB stock market, based in Milan, is in complete free-fall.
And borrowing costs on the Italian 10-year are shooting up.

This follows an election that seems destined to end with a hung parliament, or a very unstable coalition at best.

The significance is that Italy -- which is Europe's largest sovereign debt market -- may be ungovernable, raising the risk of a disruption to the progress that has brought borrowing costs down across the periphery over the last several months.

Furthermore, the election is a gigantic slap in the face to Brussels/German/Etc., as the big victors (Silvio Berlusconi and populist Beppe Grillo) ran on explicitly anti-Brussels campaigns

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