Eurozone debt crisis: Italy aims to raise 8.5bn euros

Italy's long-term borrowing rate has fallen from a record high of seven and a half per cent a month ago, to just under seven per cent.

It raised seven billion euro during its latest bond auction.

A rate of 7% for long-term bonds was the kind of figure that forced countries such as Greece and the Republic Ireland to seek international bailouts.

Bob Parker, senior adviser to Credit Suisse Asset Management, says there is a lot of work ahead to solve the eurozone crisis.