Political turmoil lights the powder trails to Italy's debt bomb

John Springford, deputy director of the Centre for European Reform, says: “The consensus is that Italy's debt is sustainable subject to political decision.

“If we end up with a pretty populist right wing government, which just decides to throw fiscal caution to the wind, then obviously that can change.” 

...“I suspect that action by the ECB will be quite a lot swifter and more forceful than it was in 2011 and 2012,” says Springford. “The general consensus is that a financial crisis in Italy is something that has to be avoided.”