AlJazeeraEnglish on Jul 11, 2011
European finance ministers are discussing a second rescue package for Greece - this one expected to be around $176bn.
Meanwhile, there are fears that the Greek debt crisis could spread to Italy.
Policy tensions between Prime Minister Silvio Berlusconi and his finance minister, Giulio Tremonti, are a major factor in the market jitters.
And a recent dramatic drop in Italian stocks and bonds has got people worried about what Italian media ominously call the "Athens Syndrome".
Al Jazeera's Paul Brennan reports from Brussels.
Uh Oh – Italy Is Coming Apart Like A 20 Dollar Suit
What is going on in Italy right now is potentially far more serious than what has been going on in Greece. Italy is the fourth largest economy in the European Union. If Italy requires a bailout, the rest of Europe might not be able to handle it.
An anonymous European Central Bank source told one German newspaper the following on Sunday....
"The existing rescue fund in Europe is not sufficient to provide a credible defensive wall for Italy"
http://theeconomiccollapseblog.com/archives/uh-oh-italy-is-coming-apart-like-a-20-dollar-suit