1. UH-OH

    Italy Gets Downgraded

    So much for la dolce vita. With a credit rating downgrade last Friday, and no solution to political deadlock in sight, Italy may soon find itself grappling with rapidly rising borrowing costs. Investors are fretting about higher interest rates in the wake of the debt downgrade. And on Sunday comedian Beppe Grillo’s Five Star Movement party announced it still wants to lead the next government instead of joining with another party.

    Read it at CNBC