Italy is thinking about taking a $250 billion writedown that has traders starting to freak out about Greece

Huffington Post Italia leaked a government proposal late Tuesday showing that populist parties had drafted plans to ask the European Central Bank for debt forgiveness of €250 billion ($300 billion).
Italy's 10-year yield hit its highest level in two months following the report.
Bond yields in other eurozone countries also spiked, with the Greek 10-year rising 25 basis points. 
Eurozone bond markets turned chaotic Wednesday after leaked documents suggested Italian coalitions paving the