“Euro Crisis Will Return Shortly And With A Vengeance”
“You can not expect that Italy’s European partners or the ECB will stabilize the Italian economy, when its people are not ready for reform.” Boerner says if Italy not willing to reform, “we have to think about how to deal with a modified eurozone.”  

JPMorgan to cut as many as 19,000 jobs through 2014
The lender, employing about 259,000 people at the end of December, will cut 13,000 to 15,000 jobs in its mortgage unit and 3,000 to 4,000 in community banking excluding home lending through 2014, the company said Tuesday in presentations on its website.  

ECB bond plan in jeopardy as Italy’s voters reject conditions
“The result touches us all,” said Spain’s foreign minister, Jose Manuel Garcia-Margallo. “It is a jump into the void that bodes well for nobody, neither for Italy, nor for the rest of Europe.” Almost 57pc of the Italian vote went to parties that have vowed to tear up the EU austerity script. Together they control a majority of senate seats.  

Clouds of crisis return to Europe
Europe’s brief respite from political and financial turmoil has come to an abrupt halt in the wake of a nerve-rattling Italian election, Britain’s loss of its cherished triple-A credit rating and troubling developments on other fronts. 

Messy Italian Election Shakes World Markets
In a national election meant to push Italy further down a path of economic reform, voters delivered political gridlock that could once again rattle Europe’s financial stability. Markets gyrated in response to returns. Yields on 10-year Italian bonds jumped a third of a percentage point in early trading Tuesday to 4.68%, their highest level this year. Spanish yields were higher by nearly a quarter of a percentage point, and bonds of Portugal and Greece were hit as well. Bond yields rise when their prices fall. 

China central bank takes lead in economic reform push
China’s readiness to bend retirement rules to keep arch-reformer Zhou Xiaochuan at the helm of the central bank signals clearly that new Communist Party chiefs want to speed economic reform in the country’s most critical development phase in three decades.