Wasn't reStructuredText the one where you can't make text a link if any of it is bold/italic/monospaced? IIRC, nesting of inline markup is generally not possible. It works in Markdown…
I'm not using a language simply because it was aiming at something better, if it missed the mark.
If you really want you can define bold italic text using some styling magic, but that's quite awkward.
How do you write <i><b>x</b>y</i> in Markdown (without using HTML tags)?