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Why is Italy in a more difficult state than Spain?

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Sanjay Joshi, the head of fixed income at London and Capital said:Italy is a critical phase because if Italian yields continue to rise to 7 percent and they become totally unsustainable that really raises a question mark over the whole euro project.

The analysts do say that the situation in Italy is not as bad as the already bailed out states, reasoning that the fundamentals are not as bad.
To answer that, Lauren Bilke said:We have to realize that this is a financial crisis, they're not just about fundamentals.
Italy`s debt burden is expected to reach about 120 percent of its economic output this year.

Why is Italy in a more difficult state than Spain?

Italy is being hit harder than Spain because of a massive shift in positioning with investors.
Italian debt is the second biggest right now in the eurozone. Italy has a 23-24 percent weighting in European government bond indexes, Spain 9-10 percent.

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