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Germany saves Euro from a TOTAL crash as anti-EU Italian elections trigger SHOCK WAVES

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• published: 05 Mar 2018
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THE EURO is set for a volatile day after the euro-sceptic Five Star Movement won 32 percent of the vote and left Italy facing a hung parliament. The eurozone’s third biggest economy now faces a prolonged period of political instability after voters delivered a messy, ill-defined parliament, spurning traditional parties and flocking to anti-establishment and far-right groups in record numbers. However, massive damage to the Euro has been mitigated by the results coming from Germany with the SPD accepting the new “Grosse Koalition” with Angela Merkel. Fears that the election results from Italy would trigger a crash in both the Euro and the FTSE MIB have not yet come to pass although uncertainty is in the air with Markus Stadlmann, Chief Investment Officer at Lloyds Bank telling Express.co.uk that, \"the case for owning Italian government bonds is not particularly compelling\", and Mike Ingram, Chief Market Strategist at WHIreland describing Italy as a \"potential Euro Killer\" last week. The Euro is now 0.21 percent to 1.1221 against the Pound but analysts say that markets have yet to fully absorb the possibility of their least desired result - a 5-Star coalition with the right-wing League. The impending result of the Italian election has been described as, “an anti-establishment triumph, of the same league as the Brexit or the Trump upsets, in the eurozone\'s 3rd largest country” by leading Italian political commentator Ferdinando Giugliano. Mr Giugliano describes the electoral arithmetic as “ugly” with none of the three big players - the Centre-right, Centre-left, 5 Star Movemen...