Falling stock prices and rising borrowing costs showed Tuesday that investors remain skeptical of efforts to solve Europe’s debt problems.

Hong Kong stocks lost three percent, while London and Tokyo were off one percent or more.

In Brussels, European finance ministers have been haggling over details of a new bailout for Greece, and discussing concerns that Italy is the next nation to be hit by the debt crisis.

Italian Economy Minister Giulio Tremonti left the finance officials’ meeting early, returning to Rome Tuesday to oversee efforts to get an austerity budget through Italy’s parliament.

The austerity measures are intended to cut Italy’s debt, which is now equivalent to 120 percent of the nation’s output. Easing the debt burden makes it more likely that the loans will be repaid, so lenders will offer lower interest rates, cutting borrowing costs.

On Monday, Eurozone chief Jean-Claude Juncker said finance ministers from countries that use the euro currency have agreed to bolster their lending capacity to help struggling nations.

Juncker said eurozone finance ministers are considering giving countries that have taken bailouts — Greece, Ireland and Portugal — lower interest rates and more time to pay back the loans.