Italy Debt Costs Soar

Italy’s borrowing costs skyrocketed Friday, with the country paying a record 6.5 percent to borrow over six months—double the cost of a month ago. The record-breaking price shows that the appointment of a new emergency government to implement an austerity program has done nothing to slow the country’s rising borrowing costs. Earlier this week, a third of the bonds Germany put up for sale failed to find buyers, showing that the crisis had spread to previously stable euro-zone countries.