Italy's Finance Minister Pier Carlo Padoan and his Greek counterpart Yanis Varoufakis (R) attend an European Union finance ministers meeting in Luxembourg, June 19, 2015. REUTERS/Francois Lenoir
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Italy's finance minister Monday played down the threat of Italy being hit by the fallout from market instability linked to the Greek crisis.The main concern for Italy is the possibility of its borrowing costs being forced up as a result of the crisis -- a scenario Padoan insisted was unlikely.During an intense period of market turbulence in 2011, the German-Italy spread rose to a peak of nearly 575 basis points. But it has since fallen to around 150 basis points and there were no signs of it widening dramatically Monday in reaction to the weekend's events.
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