Italian Market Sinks As Political Leader Reminds Everyone What A Mess The Country Is In

Most markets are pretty uneventful this morning, but Italy is sinking again.

The Milan market is down about 1.1%.

The government continues to be in a state of chaos following the elections in late February, which failed to produce a winner.

Meanwhile, Pier Luigi Bersani -- the head of the center left party who has had the best shot of forming a government -- is sounding very downbeat.

Analysts are sounding the alarm.

Bottom line, Europe is unstable, and (Cyprus excepted) Italy is the most concerning spot at the moment, so its market is set to underperform.