Perhaps the only glimmer of hope is that Italians expressed a clear view about current economic policy. The writing on the wall in Italy is this:
It has to be said that the Italian people chose rather odd messengers to deliver the message. But nonetheless, the success of Berlusconi and Grillo who ran on an anti-austerity platform (together well over 50%) along with the clamorous defeat of Monti are a clear vote of non-confidence for a policy that does not work. I doubt that Grillo and Berlusconi have much to offer in terms of a long term political programme that gets Italy out of the crisis. But their success may be instrumental in liberating Europe from a misguided economic policy.