Euro Crisis Deepens Italy Struggles to Break Out of Downward Spiral

After Spain, the focus of the euro crisis has now shifted to Italy, which is struggling with a shrinking economy and rising bond yields. Prime Minister Mario Monti has denied that his country will ask for an EU bailout, but optimism about Italy's future is in short supply.
A closed shop in downtown Milan: Italy is in the middle of a recession.

A closed shop in downtown Milan: Italy is in the middle of a recession.

Luca Bruno/ AP