Corriere della Sera reports

EU Italy

On one side, you have the Italian government constantly flirting with the idea of deliberately breaching the European Commission's rules on debt. On the other side, you have the commission itself constantly reiterating that they are looking into taking measures against Italy because of its debt problem.

It's an inevitable clash of heads and there's good reason to believe that this could be the next big problem area in Europe. As mentioned yesterday, when investors are starting to view Greece as a safer bet than Italy, it really tells you something.