Italy facing debt crisis

Italy facing debt crisis
Monday, July 11, 2011 - 7:05am

Italy's government is trying to show a united front as fears spread that the economic turmoil hitting Greece would soon reach the country. An emergency meeting was held in brussels monday over the Euro Zone debt crisis and much of the focus was on Italy. Last week market fears about Italy's economy triggered a sell off in Italian stocks and bonds.

The market pressure is due partly to Italy's high debt and sluggish economy. Italian newspapers monday all had headlines about Italy's economic fears. Italy has the highest sovereign debt ratio relative to GDP in the Euro Zone after Greece.

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