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 ItalyItaly Moves to Stabilize Its EconomyItaly became an integral member of NATO and the
European Economic Community (later the EU) as it successfully rebuilt its
postwar economy. A prolonged outbreak of terrorist activities by the
left-wing Red Brigades threatened domestic stability in the 1970s, but by
the early 1980s the terrorist groups had been suppressed. “Revolving
door” governments, political instability, scandal, and corruption
characterized Italian politics in the 1980s and 1990s.
Italy adopted the euro as its currency in Jan.
1999. Treasury Secretary Carlo Ciampi, who is credited with the economic
reforms that permitted Italy to enter the European Monetary Union, was
elected president in May 1999. Italy joined its NATO partners in the
Kosovo crisis. Aviano Air Base in northern Italy was a crucial base for
launching air strikes into Kosovo and Yugoslavia.
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