The only missing ingredient is an early election. And early elections are now the odds-on favorite.

Let's back up a bit to fill in the pieces as to how things got to this point.

Former prime minister Matteo Renzi stepped down in December after holding a referendum that failed miserably. See Renzi Resigns Following Crushing Referendum Defeat: Beppe Grillo, Marine le Pen, Matteo Salvina Tweets

Italy's president, Sergio Mattarella, appointed Paolo Gentiloni as the new prime minister after Renzi resigned. See Meet Paolo Gentiloni, 4th Consecutive Italian Technocrat Appointed Prime Minister: Renzi Not Vanquished Yet

The president said he would not hold new elections until differences between how the lower house of parliament assigned seats were resolved.

Point number three has been resolved. Both houses of Parliament are back on a proportional system.