Since the early 1970s the Italian economy has been moving towards an irreversible real and financial crisis. Paradoxically, the conditions engendered by the currency crisis and recession may also provide the basis for a new economic policy strategy, which could lead to built a mere 'economic miracle!'

Preface; Mario Baldassarri & Franco Modigliani - PART I: THE CHANGING STRUCTURAL FRAMEWORK - Italy: an Ever-Lagging Economy?; Innocenzo Cipolletta - Transition, Evolution and/or Revolution in Italian Politics; Giuseppe Pittorino - Social Change: Reactivating the System; Nadio Delai - PART II: POLITICAL CONSENSUS AND ECONOMIC PERFORMANCE: FROM CRISIS TO THE GREAT OPPORTUNITY - Italys Perverse Enveloping Growth Model Between Economic Reform and Political Consensus: the 1992 Crisis and the Opportunity of 1993; Mario Baldassarri - 1993: the Year of the Great Opportunity?; Franco Modigliani - The European Environment and the Italian Policy Mix or the Astuteness of History (A Non-Treasury View); Luigi Spaventa - Italy in the EMS: After Crisis, Salvation?; Stefano Micossi & Pier Carlo Padoan - Italy and the Modigliani Model; Rudiger Dornbusch - A Look at Italy; Paul A. Samuelson - A View from the Country Next Door: A Radical Economic Reform for France; Olivier Blanchard - The European Monetary System Crisis: Causes and Agendas; Antonio Marzano