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What impact could Italy's debt crisis have on Europe?

Italy is facing the prospect of failing to service its massive debts. It could have potentially disastrous consequences for the rest of Europe.

The cost of borrowing for the Italian government rose to record levels on Wednesday, prompting calls for a much bigger bailout fund to be made available.

The BBC's business editor Robert Peston says failure to tackle Italy's problems could inflict much wider damage.

  • 09 Nov 2011
  • From the section Europe