Italian President Giorgio Napolitano warned that a market selloff which hammered Italy's government bonds on Monday was a clear signal that urgent action was needed to strengthen budget measures being examined in parliament, according to Reuters. "No one can underestimate the alarming signal from the surge in the differential between the prices of Italian public debt instruments and those of Germany," Napolitano said in a statement. "It is a sign of the persistent difficulty in regaining trust, as is urgently and indispensably required," the head of state said, adding that he urged all parties not to block measures needed to restore credibility.
