ITALY

摘要

Italy's public finances have come under intense scrutiny in the wake of the Greek debt crisis, though as of yet the country has not joined Spain, Portugal and Ireland in having its credit ratings downgraded. While last year's deficit of 5.3% of GDP was relatively modest in comparison to Greece, for example, the high level of existing public debt, coupled with weak GDP prospects and falling tax revenues, are raising concerns over Italy's ability to service its debt.