Italy’s borrowing costs soar

Italy’s borrowing costs soared to their highest level in over a decade on the 12 July 2011 amid highly volatile trading as market contagion from Greece forced Silvio Berlusconi to appeal for national unity and 'sacrifices' to cut the nation’s debt mountain.

ESO: Background information: Merkel presses Italy on €40bn austerity deal http://www.europeansources.info/record/merkel-presses-italy-on-e40bn-austerity-deal/

Deutsche Welle, 12.7.11: World markets and the euro tumble as the EU meets and Italy retreats http://www.dw-world.de/dw/article/0,,15228761,00.html

Spiegel Online International, 12.7.11: Berlusconi's Last Stand http://www.spiegel.de/international/europe/0,1518,774042,00.html

---