The euro resumes its tumble against the dollar this morning while Italian bonds and stocks decline. Italy’s President Sergio Mattarella rejected the appointment of a euroskeptic candidate for economy minister and put in place a new Prime Minister on Monday, asking him to form a new government. EUR/USD plunged below the key $1.16 level. Italian bank stocks were particularly hit hard. Even Spain is contributing to the euro’s decline as its Prime Minister Mariano Rajoy faces a vote of no confidence on Friday.