The Italian economy

Since the early 1970s the Italian economy has been moving towards an irreversible real and financial crisis. Paradoxically, the conditions engendered by the currency crisis and recession may also provide the basis for a new economic policy strategy, which could build a mere 'economic miracle!' A series of miraculously concurrent circumstances make it possible for Italy to make a great leap forward, which could take it from the tail-end of the industrialised countries to one of the leaders. This may imply sacrifices that will be more than compensated by improvements for those that are currently 'outside' the system and the unemployed, particularly the youth. This leap will not only bring the unemployed back into society but should also cure what have been the chronic ills of the Italian economy: high and variable inflation, imbalanced national accounts and foreign account difficulties.