Italy facing political paralysis following parliamentary elections

Italy facing political paralysis following parliamentary elections

POSTED: Tuesday, February 26, 2013 - 10:00am

UPDATED: Tuesday, February 26, 2013 - 10:04am

Italy is facing political paralysis as results in crucial national elections show no clear winner. With the vote nearly all in, the results are raising the possibility of a hung parliament. The uncertainty puts on hold the nation's efforts to pass tough reforms needed to quell its economic crisis and prevent a new round of global financial turmoil.

The fall out from the election in the Eurozone's third biggest economy quickly reverberated around the globe, sending stock markets around the world into negative territory. There's little sign of political cooperation, which means voters may have to head to the polls again to elect new representatives.

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