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Page last updated at 09:19 GMT, Thursday, 10 November 2011

Markets 'scare' over Italy crisis

Italy's politics and economy are coming under increasing pressure after the interest rate on their bonds passed the 7% mark.

BBC's Simon Jack says that stock markets have been "spooked" by the situation in Italy.

The European Central Bank could have the power to bail out Italy and repay the bonds, but there could be a public outcry over the "moral hazard" of such an action.

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