There are ten Italian cities facing a high risk of bankruptcy. Most of them are in the south of the country, and have long histories of financial mismanagement, corruption and mafia infiltration. However, there are some from the more prosperous north.
The warning comes after Mario Monti, the Italian Prime Minister, warned that the Italian island of Sicily is at risk of default. Sicily has a high degree of financial autonomy, but the Italian government are poised to take over the financial affairs of the island.
Default for these cities could mean trash is uncollected and schools fail to reopen after the summer vacation.