The results of Italy’s elections leading to a political stalemate are important, not only for Italy but for the eurozone, the European Union (EU) and the world. Although the Italian tendency to exaggerate was very much in evidence, the stark message to the EU and its most powerful member, Germany’s Angela Merkel, was crystal clear: Italy and other members of the eurozone, particularly on the southern periphery, were simply fed up with the kind of austerity that has been imposed under Berlin’s leadership.