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Italy and European Integration: The 1990s
•Lecture 3: Italy and European integration: the 1990s

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The Economic Crisis of the Early 1990s
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•Currency crisis of 1992
•Recession and rising unemployment
•Inflation and interest rates
•Public debt crisis

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The Political Crisis of the Early 1990s
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•Tangentopoli and Mani Pulite investigations
•Collapse of the traditional party system
•Rise of new political forces
•Institutional reforms

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The Maastricht Treaty (1992)
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•Key provisions
•Convergence criteria for joining the euro
•Italy's position and challenges

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Maastricht Convergence Criteria
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•Inflation rate
•Government budget deficit
•Government debt-to-GDP ratio
•Long-term interest rates
•Exchange rate stability

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Italy's Challenges in Meeting Maastricht Criteria
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•High inflation
•Large budget deficits
•Massive public debt
•High interest rates

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Economic Reforms to Meet Maastricht Criteria
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•Fiscal consolidation efforts
•Privatization program
•Labor market reforms
•Pension system reform

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Political Reforms and European Integration
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•Electoral system changes
•Decentralization and federalism
•Administrative reforms
•Anti-corruption measures

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The Rise of Technocratic Governments
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•Giuliano Amato government (1992-1993)
•Carlo Azeglio Ciampi government (1993-1994)
•Role in implementing reforms and preparing for the euro

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The Emergence of Euroscepticism
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•Northern League: From regionalism to Euroscepticism
•Criticisms of the Maastricht Treaty
•Concerns about loss of sovereignty
•Economic arguments against the euro

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Public Opinion on European Integration
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•Initial enthusiasm for the EU and euro
•Growing concerns about economic impact
•Regional differences in support for European integration

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Italy's Path to the Euro
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•Prodi government and the "Euro tax" (1996-1998)
•Final push to meet convergence criteria
•Admission to the Eurozone (1998)

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Debates on Italy's Eurozone Membership
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•Potential benefits: Monetary stability, lower interest rates •Potential risks: Loss of competitive
devaluation, structural reforms
•Political and economic divisions

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Summary
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•1990s as a decade of crisis and transformation for Italy •European integration as both a challenge
and an opportunity •Emergence of tensions between EU requirements and domestic politics •Seeds of
future debates on Italy's relationship with the EU