Italy's public debt fell under 2 trillion euros (2.7trillion dollars) at the end of 2012, but was still 81.5 billioneuros higher compared to the previous year, dpa quoted the country's centralbank as saying Friday. The eurozone's third-largest economy runs relatively smalldeficits in its annual accounts, but the pile of debts it hasaccumulated over the years, worth over 125 per cent of gross domesticproduct, is one of the world's largest. When debt shot above the record 2-trillion-mark in October andNovember, critics of outgoing prime minister Mario Monti said histough austerity measures had failed to cure the country's finances. The Bank of Italy said that as of December 31, 2012, generalgovernment debt stood at 1,988 trillion euros, but stressed that"more than one third" of its increase during the previous 12 monthswas due to bailout payments to other eurozone countries.
