Mario Monti takes over as Prime Minister in Italy as Berlusconi  bows down to International pressure and steps aside.

Markets have been forcing Italian borrowing costs higher and higher through strong negative views on the Italian ability to repay their massive debt mountain and there will be an early indicator of market view, as Italy raises 3 billion euro of debt funding today.

Asian Equity markets , the first to respond to the news announced yesterday, have reacted positively and in Europe the opening calls are looking positive but in a muted fashion.

Political situations in Greece and Italy and the potential break up of the Eurozone through these situations, is unlikely to lure a level headed fund manager back into the markets in a big way just yet, as both countries struggle to pass austerity packages, tied into continued bailout  funds, into law.