Italy | Italy Moves to Stabilize Its Economy
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- Italy Becomes a Unified Peninsula
- The Rise and Fall of Mussolini
- Italy Moves to Stabilize Its Economy
- Berlusconi Proves to Be Resilient and Persistent
- Italy Faces Challenges and Berlusconi Faces Charges
- Mario Monti Helps to Stabilize Economy
- Berlusconi Removed from Senate
- Matteo Renzi Becomes Italy's Youngest Prime Minister
Italy Moves to Stabilize Its Economy
Italy 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.