The italian public debt

Today, November 29th 2010 was not a great day for the stock and the bonds market in EU.

In particular, the Italian government bonds (BOT, BTp, CCT, CTZ) has dropped a lot but the reason is not clear.
Today Italy has successfully completed the placement of two major tranches of its debt.
The rates were in line with the market ones and all the debt was allocated.

Maybe the speculation is trying to attack Italy ? Who knows...

Let me know that Italy is not Ireland, neither Greece or Portugal.

Italy has an HUGE debt.
It's Debt/GDP at the end of 2009 was at 116% and probably at the end of the current year will be worst.
If Italy comes under the same kind of attacks that hit Greece and Ireland, the EU will face the mother of all the crisis. There will be no EU fund ready to bailout Italy and this could sign the end of the Euro.

Luckly the italian government has no more long term debt to finance until the end of the 2010, and in 2011 will have to refinance a total debt lower that the one re-financed during 2010.