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Markets react nervously to Italy's political uncertainty


Italy

Markets react nervously to Italy's political uncertainty

European shares fell and the euro plunged towards a two-week low amid uncertainty over Italy’s immediate future following the prime minister’s decision to resign.

Shares in Milan and Madrid dropped by one percent or more, and there were smaller falls in London, Paris and Frankfurt.

The euro slid by a 0.25 percent in early trading.

Mario Monti says he intends to step down once next year’s budget is approved, leading to fears of renewed instability in the euro zone’s third largest economy.

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