5.8 Magnitude Earthquake Shakes Already-Battered Northern Italy
The same area, including the towns of Cavesso, Medolla and Mirandola, was struck by a 6.0 magnitude quake May 20, which killed 7 people and left some 7,000 without homes according to The Telegraph.
Soldiers and rescue officials have already been deployed as the cities scramble to assess the damage and move forward. Prime Minister Mario Monti said the government would do "all that it must and all that is possible in the briefest period to guarantee the resumption of normal life in this area that is so special, so important and so productive for Italy."
Reuters pointed out the region is particularly wealthy, home to brands like Barilla and Ferrari as well as vast stretches farmland and valuable food exports. This recent disaster may serve a mighty blow to the economy already in recession, though early reports indicate the plants and factories of Barilla and Ferrari suffered no damage.
Read more of Neon Tommy's European economic crisis coverage here.