La Italian political crisis sinks the markets. Business Square it sank at the opening by more than two percentage points, while the spread shot up to a maximum of 288 basis points, after closing on Friday at 264.
Milan is Europe's black jersey, but the other main stock exchanges are also wearing red this morning: London -1,08% Paris -1,26% Frankfurt -1,20%.
Closing in sharp decline also for the Stock Exchange Tokyo, with the Nikkei index leaving the field 2,06%, at 14.455,80 points.
On the Milanese price list they suffer in particular the banks. The worst titles are those of Bank Pop Milan (-5,24%), Where's Banca (-5,08%), Intesa Sanpaolo (-5,06%, on which it also weighs the unexpected change at the top), Banco Popolare (-4,77%), Mediobanca (-4,36%) And Unicredit (-4,15%).
As for the Berlusconi galaxy, Mediaset loses 4,58%, Mondadori 2,14% and Mediolanum the 4,012%.
The only stock on the rise is that of Telecom Italy (+ 1,21%).
After the acceleration of the government crisis arrived at the weekend, with the resignation of the PDL ministers imposed by Silvio Berlusconi and the consequent rift in the party, among investors there are already those who are thinking of the arrival in Italy of a troika of inspectors (EU-ECB-IMF), such as it has already happened in Athens.
An extreme hypothesis, but it is certain that our country is once again the potential trigger of a euro crisis, with unfortunate repercussions for the European Union and, consequently, on the global recovery.
It weighs on the markets too the delicate American situation: Tonight, for the first time in 17 years, the US Treasury will run dry. On Sunday morning, the House, with a Republican majority, conditioned the go-ahead for the financing of public spending on the one-year postponement of the health care reform.
The Senate, with a Democratic majority, has already rejected the "blackmail" imposed by the right-wing Tea Party. Hence the paralysis: without parliamentary authorization the Treasury cannot draw on the Federal Reserve. Military salaries were unanimously exempted from the squeeze on expenses.
