Following the Italian elections on Tuesday, the ailing eurozone is preparing for a hung parliament in Italy which would signal no worries for the monetary union. Both Silvio Berlusconi and Beppe Grillo performed slightly better than expected, forcing the centre-left candidate Pier Luigi Bersani to wait for his turn in the political limelight. Many analysts in Europe see the Italian election results as a catastrophe waiting to happen unless the party forming the government will commit to the reforms promulgated and executed by the incumbent PM Mario Monti. Austerity-championing Europeans are hoping that their European brothers and sisters in Europe’s southern periphery will embrace economic policies that have led to balanced growth and relatively low youth unemployment across northern Europe.