Political pressure groups and leaders: the Roman Catholic Church;
three major trade union confederations (Confederazione Generale
D'ANTONI] which is Catholic centrist, and Unione Italiana del Lavoro
manufacturers and merchants associations (Confindustria,
Confcommercio); organized farm groups (Confcoltivatori,
Confagricoltura)
International organization participation: AfDB, AsDB, Australia
Group, BIS, BSEC (observer), CCC, CDB (non-regional), CE, CEI, CERN,
EAPC, EBRD, ECE, ECLAC, EIB, EMU, ESA, EU, FAO, G- 7, G-10, IADB,
IAEA, IBRD, ICAO, ICC, ICFTU, ICRM, IDA, IEA, IFAD, IFC, IFRCS, IHO,
ILO, IMF, IMO, Inmarsat, Intelsat, Interpol, IOC, IOM, ISO, ITU,
LAIA (observer), MINURSO, MTCR, NAM (guest), NATO, NEA, NSG, OAS
(observer), OECD, OPCW, OSCE, PCA, UN, UNCTAD, UNESCO, UNHCR, UNIDO,
UNIFIL, UNIKOM, UNITAR, UNMIBH, UNMOGIP, UNTSO, UPU, WCL, WEU, WHO,
WIPO, WMO, WToO, WTrO, ZC
Diplomatic representation in the US: chief of mission: Ambassador Ferdinando SALLEO chancery: 1601 Fuller Street NW, Washington, DC 20009 and 2700 16th Street NW, Washington, DC 20009 consulate(s) general: Boston, Chicago, Houston, Miami, New York, Los Angeles, Philadelphia, and San Francisco consulate(s): Detroit
Diplomatic representation from the US:
chief of mission: Ambassador Thomas M. FOGLIETTA
embassy: Via Veneto 119/A, 00187-Rome
mailing address: PSC 59, Box 100, APO AE 09624
consulate(s) general: Florence, Milan, Naples
Flag description: three equal vertical bands of green (hoist
side), white, and red; similar to the flag of Ireland, which is
longer and is green (hoist side), white, and orange; also similar to
the flag of the Cote d'Ivoire, which has the colors reversed—orange
(hoist side), white, and green
Economy
Economy—overview: Since World War II, the Italian economy has changed from one based on agriculture into a ranking industrial economy, with approximately the same total and per capita output as France and the UK. This basically capitalistic economy is still divided into a developed industrial north, dominated by private companies, and a less developed agricultural south, with large public enterprises and more than 20% unemployment. Most raw materials needed by industry and over 75% of energy requirements must be imported. In the second half of 1992, Rome became unsettled by the prospect of not qualifying to participate in EU plans for economic and monetary union later in the decade; thus, it finally began to address its huge fiscal imbalances. Subsequently, the government has adopted fairly stringent budgets, abandoned its inflationary wage indexation system, and started to scale back its generous social welfare programs, including pension and health care benefits. In December 1998, Italy adopted a budget compliant with the requirements of the European Monetary Union (EMU); representatives of government, labor, and employers agreed to an update of the 1993 "social pact," which has been widely credited with having brought Italy's inflation into conformity with EMU requirements. In 1999, Italy must adjust to the loss of an independent monetary policy, which it has used quite liberally in the past to help cope with external shocks. Italy also must work to stimulate employment, promote wage flexibility, and tackle the informal economy.
GDP: purchasing power parity—$1.181 trillion (1998 est.)
GDP—real growth rate: 1.5% (1998 est.)
GDP—per capita: purchasing power parity?$20,800 (1998 est.)