its not that simply the borrowing costs of Italy is rising....

its not that simply the borrowing costs of Italy is rising. surely its the lender prerogative if they lend to Italy or not?

Lenders are saying to Italy "we believe you are risky so we want a better return", thats the prerogative of the lender.

On the CDS market insurers are asking a large premium to insure Italian debt.

So there is no one to name as such, its simply that the Italian credit rating is falling and due to this its borrowing costs are rising , its a form of free market discipline .

Now if the ECB wanted to lend the Italians the money directly at a nice low rate it would solve everything. Germany and France refuse to do this though. The rich countries dont want to help out the poor countries (unless austerity measures are agreed)