Italy Public Debt Hits Record High, Deficit Up as Italy Blames Bailouts

Bailing out other EU members is costing Italy, according to its central bank

Italy's public debt hit an all-time high in June of almost 2 trillion euros and the annual budget deficit was also bigger than a year before, due largely to Italy's share of bailouts for other euro zone states, the central bank said on Monday.

Public debt at the end of June rose 6.6 billion euros to 1.973 billion euros, the Bank of Italy said, as the Treasury's cash reserves increased by 10.3 billion euros.