Italian Borrowing Costs Still Rising

14/11/11 -- New PM or not, Italy has been required to pay a yield of 6.29% in this morning's auction of EUR3 billion of five year bonds. That's the highest rate it's had to pay in fourteen years and almost one percentage point higher than it paid in a similar auction just a month ago.

That's another step closer to the begging bowl on day one in office for "Super" Mario Monti.