Italy’s Debt Problems ‘Concerning,’ FSA’s Turner Tells Lawmakers

Italy’s sovereign debt problem is “one of the most concerning in the Eurozone,” Adair Turner, chairman of the Financial Services Authority, told U.K. lawmakers today.

The country’s “sheer size of debt” compared with its gross domestic product may pose a risk to financial stability despite U.K. banks having relatively small stakes in Italy’s economy, Turner told lawmakers on a U.K. Treasury panel in London today.