Is Italy about to ruin the EU economics?

Italy — one of the key countries of the European Union — is at the verge of bankruptcy. Data of the Italian Statistics Institute (Istat) points out to that. According to its information, in the crisis year of 2009 the country has stepped over the red line distinguishing it from the bankruptcy. So during 2009 deficit of the Italian state budget made up 5.3 percents, having beaten the last year results two-fold. This is the worst result during all the surveillance period (since 1971). Meanwhile, the state debt of the country has reached the record mark during the indicated period, having made up 1.761 trillion euro or 115.8 percents of GDP...
http://www.eastwest-review.com/article/italy-about-ruin-eu-economics