European monetary union (EMU) is not a new project, however. Economic and political integration has been an established policy aim in Europe since the end of the Second World War. As early as 25 years ago, there was a serious attempt to set a monetary union in motion, although it did not meet with success at the time.
Progress made in the labour, capital and services markets has begun to bear fruit; it has enabled Italy to benefit from the global and European recovery and has meant that the consolidation of growth is no longer supported by cyclical factors alone. Investment has increased since the summer.