Beppe Grillo Just Picked Up 5% in a Recent Poll

“A new poll (Tweeted by Fabrizio Goria) shows surging support for Grillo. The election only added to his momentum, and he’s now at 30 percent. Almost as worrisome for Europe: Berlusconi’s PDL has also gained since the election.

These both represent protests aimed at austerity and Brussels. Remember, Italy has gotten its borrowing costs down, because it;s engaged in austerity/reforms that the ECB likes. If Italy goes back on them, the ECB backstop becomes less politically tenable, and then you could have surging borrowing costs in Europe’s largest debt market….”

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