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Italy fears Spanish bailout will hurt Rome

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Italy fears Spanish bailout will hurt Rome

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Italy claims that a 100 billion euro aid request from Spain would shave 1.5 per cent off Italy’s economic output, according to Rome’s finance ministry.

Spain which has already obtained cash to prop up its banking sector, could seek a sovereign bailout next month, claim eurozone officials.

Italy’s Finance Minister Vittorio Grilli said Italy’s public debt had gone up four per cent as a result of EU aid to Greece, Portugal and Ireland.