The Italian Chamber of Deputies recently organized the conference called "Italy's public debt in the Eurozone", which saw experts in the restructuring of public debt, academics, journalists and investment fund managers. In a participant's opinion, Jens Nordvig, head of department at Nomura Securities and former banker at Goldman Sachs, "Italy is now the most important country in Europe". The reason is of course, not just the size of its economy, but also the very high level of its public debt, which nobody seems to be able to find a solution for. The latest official data, of April 2017, shows that public debt has reached 2.27 trillion Euros, a new record, after increasing 37.2 billion over last year's similar period. The aggregated budget deficit after the first six months of 2017 was 50.2 billion Euros, 22.5 billion Euros higher YOY, according to Reuters, as over half of the deficit of June 2017, of 8.2 billion Euros, was the "result" of the state's involvement in the liquidation of the two banks in the Veneto region. A new record, once again a negative one, was seen when it comes to Italy's position within Target2 (Trans-European Automated Real-time Gross settlement Express Transfer), the real-time settlement system for payments in Euros. ECB data of May 2017, shows that Italy's deficit within the Target2 system has reached 421.6 billion Euros, way above the level recorded during the sovereign debt crisis, a phenomenon which reflects the acceleration of capital outflows. Under these circumstances, it is not surprising that the European authorities have "allowed" Italy to violate the banking resolution regulations that recently came into effect, even though that represents a new factor "to divide Europe", according to Reuters.