Italy's Debt: Landmarks for Sale

Italian government allows ads on Roman Colosseum and other historic sites.
2:37 | 11/10/11

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Transcript for Italy's Debt: Landmarks for Sale
We've told you about the economic convulsion and Italy that threatens to take down the mighty countries of Europe and sent a shockwave across the ocean to America and 401 case. Well tonight Italians are talking about an unconventional hail Mary idea. Placing ads on some of the most beloved and recognizable tourist attractions in the world. A new member of RA BC news team Kelly -- -- has the story from Rome Kelly. Diana Rome is ground zero for what could be a global financial catastrophe. Italy's financial mess is massive. Two and a half trillion dollars of debt bigger than the entire economy. And the government is putting everything on the table. When it comes to treasures Italy has more than its -- who can forget Michelangelo's David or that leaning tower. -- In the past few years some of these monuments have become billboards. The Roman coliseum the canals of Venice the money making deal wrapping the bridge of sighs earned more than two million dollars from companies like -- -- To keep things afloat this country will need to borrow 408. Billion next year how many monumental ads -- Italy have to sell. More than 272000. Certainly not a workable answer. Is it guaranteeing that Italy won't survive that's. Unfortunately there's not a guarantee so what should they do it. Trading in the scandal ridden prime minister Silvio Berlusconi for an economics professor named Mario Monti is the first step. Then comes sacrificed. A higher taxes. Cuts to those social programs Italians had grown so used to the people we met told us they're already suffering. I am thin and and it was -- -- I don't really get -- -- yeah thank god -- you be willing to pay higher taxes. Life I could yes but I think we don't have enough money to eat and eat sometimes. Well when you did not -- -- You whose movie. When Berlusconi -- to introduce cuts last month Italians let him know what they. It's the alternative would be much worse -- bankrupt Italy dragging the rest of Europe and the US down with it. Send your -- the presumed next prime minister of Italy apparently saw this coming. He's been working on his own financial reform package for the past four months no hints on what's in it tonight but -- and you can bet Italy along with the rest of the world. Is anxious to find out.

This transcript has been automatically generated and may not be 100% accurate.

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