And the third day.....

As an Italian comic, Fiorello, said yesterday, "get reassured, it is only the second day after his resignation, on the third he will resuscitate".

Looking at the spread for the Italian Treasury Bonds today and at the stock exchange, one wonders whether Fiorello was not right. In fact, Berlusconi never died, just went into a comatose state and will continue to negatively influence Italy.

As of now, many of us doubt Italy will resurrect soon.

What's happening in Italy is exactly what happens when a long reigning dictator goes. The mess and the need for a lot of time to recover. But markets may not wait.

Hard times facing Italy, thanks to Berlusconi and his bunch of crooks.