Europe Is Getting Smoked This Morning — Here's All The Ugly Stuff That's Happening

Europe is getting smoked this morning.

• Spain is down 1.7%
• Italy is down 1.4%
• Germany is down 1.2%
• Greece is down 4%
• The euro is at a 4-month low.
• Sovereign spreads are wider.

So what's going on?

• People are still freaking out about Cyprus and trying to figure out what it means.
• Contradictory statements continue to get made about whether Cyprus is a template for other countries or not.
• European economic sentiment fell for the first time in several months.
• Italian factory orders came out very bad.
• Italian politician Pier Luigi Bersani says the country is a mess and it's going to be hard for a government to form.

So basically, Europe is being Europe.

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Read more: http://www.businessinsider.com/why-europe-is-falling-march-27-2013-3#ixzz2OkTwj3bR

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