I do hope Mr. Grillo is not planning a trip with a private jet anywhere soon.
His recent comments have not only shaken up the Brussels Oligarchs in power but are also quite representative of the anti-austerity / anti-euro political party growth in Southern Mediterranean countries.
The chart below is not a good sign for the frankenstein experiment we like to call the Eurozone.
As Zerohedge points outs…
One of these countries could trigger a new euro-area political crisis and affect the others through contagion. Market participants are focused on the European Central Bank and may be overlooking that prospect.
As Martin Armstrong asks rather pointedly…
Since the introduction of the euro, all economic parameters have deteriorated, the founder of the five-star movement in Italy is absolutely correct. The design or the Euro was a disaster. There is no fixing this any more. We have crossed the line of no return. Beppe is now calling for referendum on leaving euro. Will he be assassinated by Brussels? It is unlikely that the EU Commission will allow such a vote.