Debt Focus Shifts From Greece to Italy

European debt concerns have continued to affect the financial markets across the world, as many fear Italy will soon be in the same position as Greece.  Both nations are members of the Euro Zone, which has a common currency, the Euro, and all agree on monetary policy.  

Italian government bonds have recently risen to their highest level in 14 years, which many financial experts believe is unsustainable under the current economic conditions.  Political turmoil in Italy has further created worry that Italy is next to face default on its debt and may require a bailout from other Euro Zone nations.  

Markets across the world have reacted to the news, as most markets remain stagnant with gains found only in few sectors. Many feel the worldwide markets will travel a similar path as occurred during the summer of 2011, as the Greek default story unfolded.