Investors in Italy are becoming concerned the country may not be able to continue to pay its debts. 

The interest rate the Italian government is being charged has hit a record high of 6 point 6 percent. 

In comparison, the UK's cost is just over 2 percent.

It's led to rumours President Silvio Berlusconi may resign.

Meanwhile...

Greece has until tonight to sort out a new government - or face losing its emergency EU bail out.

130 billion euros have been earmarked for the debt-ridden country - but only once a new Prime Minister's appointed.