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Italy's great power strength includes a vast advanced economy [15] [16] (in terms of national wealth, net wealth per capita and national GDP), a strong manufacturing industry (ranking 7th on the list of countries by manufacturing output), [17] a large luxury goods market, [18] a large national budget and the third largest gold reserve in the world.
Italy, [a] officially the Italian Republic, [b] is a country in Southern [12] and Western Europe. ... Roman, and other cultures merged into a powerful civilisation.
The European balance of power is a tenet in international relations that no single power should be allowed to achieve hegemony over a substantial part of Europe. During much of the Modern Age, the balance was achieved by having a small number of ever-changing alliances contending for power, [1] which culminated in the World Wars of the early 20th century.
Italy took the initiative in entering the war in spring 1915, despite strong popular and elite sentiment in favor of neutrality. Italy was a large, poor country whose political system was chaotic, its finances were heavily strained, and its army was very poorly prepared. [160] The Triple Alliance meant little either to Italians or Austrians.
The economy of Italy is a highly developed social market economy. [31] It is the third-largest national economy in the European Union , the second-largest manufacturing industry in Europe (7th-largest in the world), [ 32 ] the 9th-largest economy in the world by nominal GDP , and the 11th-largest by PPP-adjusted GDP .
The politics of Italy are conducted through a parliamentary republic with a multi-party system. Italy has been a democratic republic since 2 June 1946, when the monarchy was abolished by popular referendum and a constituent assembly, formed by the representatives of all the anti-fascist forces that contributed to the defeat of Nazi and Fascist forces during the liberation of Italy, was elected ...
Italy has been a member together with the five permanent Security Council members plus Germany in the International Support Group for Lebanon (ISG) [69] [70] [71] grouping of world powers. Some analysts assert that Italy is an "intermittent" or the "Least of the Great Powers", [72] [73] while some others believe Italy is a middle or regional power.
This is an accepted version of this page This is the latest accepted revision, reviewed on 20 January 2025. List of great powers from the early modern period to the post-Cold War era Great powers are often recognized in an international structure such as the United Nations Security Council. A great power is a nation, state or empire that, through its economic, political and military strength ...