The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.By David Sterman NEW YORK ( StreetAuthority) -- I was talking with a colleague a few weeks ago and she wondered aloud whether the economic and political chaos in Italy -- mainly the result of Europe's ongoing sovereign debt crisis -- was creating an opening for bargain-hunting investors. After all, we're talking about the fourth-largest economy in Europe (after Germany, France and the U.K.), an economy that has a fairly impressive industrial base. My initial thought was to steer clear. The open-ended economic crisis in the region could really hurt Italy in 2012, as the county enacts a set of belt-tightening moves. But if you are a regular reader of my articles, then you know I'm an assiduous bargain hunter. So I decided to dig deeper. Indeed, Italy's economic woes merit investors' attention. At least the iShares MSCI Italy Index Fund ( EWI) does. The fund holds a basket of Italy's top companies, many of which can be trusted to deliver steady results in any economic climate.