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The uncertainty, which emerged from the Italian general election, is still being felt in the markets with the Milan stock exchange tumbling 4.79 per cent, and other European trading floors also seeing losses.
The first sale of Italian bonds after the poll result was announced saw interest rates rise dangerously and a further round of sales is due to hit the market later today.
Moody’s declared that government paralysis could soon trigger another downgrade of Italy’s debt rating.
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