The EU financial mess continues unabated with Italy being forced to pay record interest rates at an auction of treasury bills valued at 10bn Euros.
The rate of interest for the new debts due to be repaid in six months was 6.504%, compared with 3.535% in the last comparable sale on 26 October.
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Germany remains in focus as the main financial centre of Europe and all eyes continue to watch stocks markets rise and fall with sentiment as well as the numbers coming out of trading results.
The rate for two-year borrowing was 7.814%, up from 4.628% last time.
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The Bank of Italy stressed that demand for the bonds had been high, with demand for the debts outstripping supply by 50%.
Spain looks like they could also face a major financial crisis in the coming weeks.
With Italy having now joined Greece in the centre of the EU issues and Portugal and the Irish Republic on the eurozone high critical list, it is looking like Spain could be next with headlines concerning debt issues.
