greg. >> reporter: that's right. if the economy were as good as the weather in italy we'd be in good shape, but that is not the case, and certainly there are war rowsblems in spain from last week and over the weekend are spreading to italy. they saw the borrowing rate shoot up today. lots of concern in italy that it could go the way of spain. it's bigger than spain and would be a lot more pob louisianamatic. the italian prime minister bleeding with the parliament to pass reforms, he says the country needs growth. it's saddled with a huge public debt, that's why the borrowing rates are so high. growth is not something it lie has seen a lot of in recent years and there is no reason that they can expect to turn it around any time quickly. they have been hit with austerity measures, a lot of taxes and other things which certainly don't put you in a mood to buy a house or start a business. the world bank putting out a report yesterday saying that the quote, high income countries around the globe will be growing at only about 1.4% this year, that is nothing, and even worse they say the problems are going to continue for several years. finally, jenna, you