News Summary: Italy's borrowing costs rise at sale

AP News
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Posted: Jun 27, 2012 2:52 PM
News Summary: Italy's borrowing costs rise at sale

BORROWING COSTS RISE: Italy's borrowing costs on six-month bonds jumped Wednesday to their highest level since December as worries about the fate of the euro wrack investors.

MARKET REFORMS: Meanwhile, Italy's lower Chamber of Deputies gave final parliamentary approval to reforms making it easier to fire workers.

CONTEXT: Appointed to save Italy from financial disaster in the spreading eurozone crisis, Premier Mario Monti's government has so far enjoyed wide support in Parliament. But the austerity measures and increased taxes he has pressed have tried Italians' patience.