Italy loaded with debt

Italy is set to overtake Greece as the eurozone’s most indebted country by the end of this year, Reuters reported yesterday. Italy’s new budget estimates the national debt to rise to 138.6 percent of gdp, a 1.5 percent increase over last year. Greece’s debt-to-gdp ratio is estimated at 137 percent. Italy is one of the top three EU nations by population, economy, strategic value, culture and religion, but its debt load is one reason it can never challenge France or, especially, Germany to be Europe’s dominant force.