Europe's financial winter isn't over
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The opinions expressed in this commentary are solely those of Paul R. La Monica. Other than Time Warner, the parent of CNNMoney, Abbott Laboratories and AbbVie, La Monica does not own positions in any individual stocks.
I realize that Groundhog Day is mostly an American phenomenon. But if there were any furry, prognosticating rodents peeking out of their holes in Europe over the weekend, they probably didn't like what they saw.
Madrid Mariano and Milan Mario would have witnessed an enormous shadow. Let's be honest, there is probably six more weeks (if not more) of economic winter for the troubled eurozone.
European stock markets plunged Monday due to concerns about alleged corruption in Spain's government and worries about banking problems in Italy. With Italy facing key elections in a matter of weeks, and the popularity of the Spanish government plummeting, investors may have reason to fear a dilution of fiscal reforms that have helped boost confidence in European markets.
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