Italy could face EU financial sanctions

The European Commission says Italy is breaching EU rules over its mounting debt, starting a process that could lead to financial sanctions


European financial crisis: Unable to repay government debts or bail out own ailing banks, Greece, Portugal, Cyprus, Spain and Ireland forced to seek EU financial assistance


Despite no EU bailout, Italy’s debt to GDP ratio is second only to that of Greece. Increasing signs suggest that if left unchecked, Italy could trigger another, more damaging, European debt crisis


GOVERNMENT DEBT TO GDP (%)

200				Greece 181.10
150				Italy 132.20
				Portugal 121.50
				Cyprus 102.50
100 				Spain 97.10
				Ireland 64.80
50				
0				
2000 02 04 06 08 10 12 14 16 18

Financial crisis begins in U.S.

European financial crisis begins


Sources: Reuters, Trading Economics, New York Times
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