Complex sentence: About 300 billion euros of Italy's 1.9 trillion euro debt matures (is due) in 2012, so it must go to the capital markets for significant refinancing in the near-term.
Split into simpler sentences: About 300 billion euros of Italy's 1.9 trillion euro debt matures in 2012. It will therefore have to go to the capital markets for significant refinancing in the near-term.