Eurozone government net liabilities

Italy's finances look shaky – a debt-to-GDP ratio of 118%, a heavy proportion of debt to be rolled over and growth almost at a standstill. On the other hand, the level of household debt is much lower that of most other large European countries.

Nor does the government have the same size of unfunded pension and other liabilities as some other European countries.

This chart and caption, published a couple of weeks ago by Société Générale analysts, is alarming.

Eurozone government net liabilities Photograph: guardian.co.uk