Italy MUST act NOW: IMF’s URGENT warning to EU as Italian debt hits ‘ALARMING’ levels

Italy is on the brink of financial and political meltdown and leader Matteo Renzi may be abut to push t over the edge by calling a referendum on constitutional reform in October, potentially plunging the already beleaguered European Union into fresh chaos.

Juan Toro of the International Monetary Fund (Fmi), said: “It is necessary to take significant measures in the recovery of credit.”