This is not a strictly Italian problem, it is common to the other countries of Europe. It lies at the origin of today’s fragility. European integration has brought price stability and, until the crisis, the effective control of public deficits.
Ten years ago, at the launch of the single currency, there were calls for it to be accompanied by stronger economic management at European Union level; these voices were drowned out by the chorus of enthusiasts who celebrated the achievement together with the commitment to resist all further integration. The euro is sound.