Europe Is Getting Smoked This Morning — Here's All The Ugly Stuff That's Happening

Business Insider

Europe is getting smoked this morning.

  • Spain is down 1.7%
  • Italy is down 1.4%
  • Germany is down 1.2%
  • Greece is down 4%
  • The euro is at a 4-month low.
  • Sovereign spreads are wider.

So what's going on?

  • People are still freaking out about Cyprus and trying to figure out what it means.
  • Contradictory statements continue to get made about whether Cyprus is a template for other countries or not.
  • European economic sentiment fell for the first time in several months.
  • Italian factory orders came out very bad.
  • Italian politician Pier Luigi Bersani says the country is a mess and it's going to be hard for a government to form.

So basically, Europe is being Europe.



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