zone's third largest whether it's mean machines from ferrari or muscle roxy or fashion labels like armani gucci and dalton combine a breath. sounds like these stands for italy's economic power but despite its strong industrial base italy punches below its weight in several key areas for example economic growth although it's launched a number of programs in the last decade to help kick start investment in the southern european country when stuff remains stubbornly below average compared to the e.u. its new government now wants to radically cop taxes to help spur growth but that could eventually lead to even higher levels of debt and break even budgetary rules so in late october for the first time ever the european commission rejected a draft budget submitted by member states italy so italian leaders have to submit an amended budget until midnight if they don't they are setting up a clash that will probably ripple into markets. rome issued new bonds on tuesday a clear test of investor confidence uncertain buyers demand more return for the risk potentially costing the country more yet bond yields