Beppe Grillo, the leader of the 5-Star Movement that shocked the Italian political system has said he wants an online vote on Italy's membership of the Euro, in an interview with a German magazine published.
World stock markets and southern European government bonds sank on Tuesday on fears that political stalemate in Italy would leave its economic reforms in tatters and reignite the Euro zone's broader debt crisis.
Italy faced political deadlock on Tuesday after a stunning election that saw the anti-establishment 5-Star Movement of comic Beppe Grillo become the strongest party in the country and left no political group with a clear majority in parliament. The protest vote is also a clear signal of the failure of the EU-German sponsored austerity measures which were implemented by the government of the non-elected technocrat government of Mario Monti.
Comic Beppe Grillo, a political newcomer is sending shockwaves to the Italian political system ahead of national elections. Touring the country in a camper van and attracting tens of thousands to his rallies, Grillo has channeled the rage and frustration that Italians feel at the rampant waste and corruption of their political leaders.