georgina robertson has more. georgina: the governor of italy's central bank issued a sharp warning. the nation is facing a crisis of confidence. thelso highlighted unreasonable gdp national debt -- national debt ratio. public borrowing stands at 132% of gross domestic product, as natural -- national debt stands at 2 trillion euros. cost ofl raise the borrowing. this, coupled with the bond sale triggered by political uncertainty, will create more difficulties. looming elections are being alked about as if they were referendum on europe. populist politicians in europe have been promising tax cuts. it is clear this could put italy into more debt. the markets are responding with volatility. too big to fail and too big to bail, commentators are saying. it is the biggest economy in the eurozone, behind france and germany. greece is only the 17th largest economy, and yet it's crisis was a flashpoint in the block. a crisis in italy is a greater threat for the eurozone. potential stalemate and prospect of fresh elections are putting pressure on italian bonds and stocks. dealhort-term to your

here's georgina robertson. >> a strike that seems to have lost steam.as found its full force again. there are only a third of trains running. the fifth of services. seen figures have not been since the start of the industrial action. this coincides with the referendum. unions are asking rail workers if they are for or against the reform. management questions the legitimacy of the votes. >> we want to be on an equal standing with the management. >> there was more controversy over the weekend. the sncf says the strikes have arctic cost more than 300 million euros. -- bibillion euros of debt. the project has already passed through a vote in the national assembly. it is due to come before the senate on the 29th of may. trade,ng on to global the u.s. and china gearing up for another round of high-level talks to ease tensions. ahead of the talks, president donald trump extended an olive branch. he said he was working with president xi jinping to get back into business. month, the u.s. banned american companies from selling -- >> how have the markets digested

regina robertson takes a look -- georgina robertson takes a look at how pullouts may affect u.s. businesses. georgina: donald trump followed through on his promise despite a last-minute appeal from emmanuel macron. the u.s. withdrew with a tough warning for foreign firms. >> he has made clear before that any countries that ignore some of the sanctions the u.s. imposed are going to be affected by anything they try to circumvent. the sanctions of the u.s. will be imposed. georgina: in the past two years, french companies have tripled economic activity with h hran. the u.s. sections put billion-dollar deals at stake. might seetal, peugeot project stopped. airbus is currently reliant on u.s.-made parts. they have only delivered three out of 100 planes ordered by iran air in december 2016, a deal worth $20 billion. since the nuclear deal was reached, trade between e.u. and .ran has grown in 2017, it reached $25 billion. trade with iran will be banned in less than six months time. for those who break the rules, they run the risk of massive fines. in 2014, the french bank bnp brickingas

gina robertson has this -- georgina robertson has the story. the market, haggling for the best prices, but business is suffering. markets shut last year asas the government bids to phase out use clothing- used imports. they say the market has been stunted by cheap imports, and they want to stimulate local production. >> one thing to do is to support the local producers. we are not just opening up the markets. we also want to think of how they can benefit. georgina: consumers are already feeling the effect. -- ie each some children season children walking around naked because their parents cannot afford to buy clothes. others are walking around with torn clothes. that never used to happen. georgina: rwanda slapped its import tariff on clothes, raising them from a few cents to over two euros. rwanda currently enjoys duty-free treatment on clothing exports. this will end if they continue with their tariffs, after the u.s. used clothing industry complained. it could cut off kigali's preferential relationship to the world's largest consumer market.