oldfart
Older than dirt
However,Italy,Greece and Portugal are capitalist economies but with influential corporantions("camarille"in Italian),that limit economic freedom and so Italy(especially Southern Italy,more than Northern Italy)is more similar to a former Socialist State in Eastern Europe(Hungary,for example)in some economic sectors.
But Italy is more rich than Greece or Portugal;in fact,NORTHER ITALY IS RICH AS HOLLAND AND GERMANY FOR G.D.P. and in Italy we have some extended industrial districts,absent in Greece and Portugal and also in Spain.
Is it clear?
In a perverse way, it's good to hear of another country with a north/south economic development problem! Of course in the US both sections have the same central bank and the same basic federal government programs. Italy suffers from having the same monetary regime as the rest of the Eurozone, but a separate fiscal policy. I was interested in your comments about past plans to allocate government investment 60% in the south of Italy to promote private investment. Why did it fail? Does the EU have an economic development strategy for southern Italy and other less developed regions of the EU, or is this still primarily a national responsibility?