Italy saw fresh worries surface as the country's bond yields touched fresh highs of nearly 7% on Wednesday as clearing firm LCH Clearnet raised the margin that traders need to deposit in order to trade Italian bonds of all maturities.
The yield on Italy’s benchmark 10-year government bond rose over 30 basis points to trade at nearly 7%.
Italian Prime Minister Silvio Berlusconi on Wednesday offered to step down provided an austerity package demanded by the European Union was passed by the Parliament. Berlusconi failed to win a majority in a key vote on Tuesday.