That's up from €2.331 trillion seen in September
It's only a mild difference but as a whole, this is where the real problem lies for Italy and the Eurozone. Forget about the budget, it's only a fraction of a problem if you put it in comparison to Italy's debt pile.
With Italian GDP contracting for the first time in four years during Q3, it's hardly a pillar of confidence for investors that the ballooning debt-to-GDP ratio in Italy will settle down any time soon.
What makes matters worse is that traders and investors are keeping their eyes glued on the budget deficit target - which mind you, doesn't even make sense because of the Italian government's overly-optimistic growth projections - while the real problem is slowly getting even more out of hand.
When Italian growth fails to live up to what the government forecasts it to be next year, expect the budget deficit to show a stark difference to what will be agreed between Italy and the European Commission. And when that happens, expect Italian assets and the euro to be hit with a very large knock on the head because of the realisation that the debt-to-GDP ratio is only going to continue to rise.
