ECB’s Nowotny: Italy’s deficit could widen further if rates rise

The European Central Bank (ECB) policymaker Ewald Nowotny, commenting on Italy's debt situation, said that interest on Italian 10-yr debt has risen significantly. 

He was further noted saying that this is a clear warning sign from markets and Italy’s deficit could widen further if rates continue to rise, though the situation cannot be compared to that in Greece.