things of History the Italy
All the nations across the globe have got a history of their own. Learning about the historical events is a very interesting thing to do. It can even turn into a hobby when heard with great interest. History is something which existed in the past and we live in the future. There is no soul from the past who is alive till date to describe what happened in the history of a nation. But there are a few monuments and places which speak a thousand words about the past of that place.
Italy, rich in art, cuisine and ancient history, went from being the “sick man of Europe’’ to its third largest economy, only to see its future imperiled by stagnant growth, political paralysis and investor fears over the mountain of debt it has piled up over the years.
In a sense its economic troubles date back to the late 1990s, when the country’s manufacturing was overtaken by competitors in Asia. Its patronage-based politics and rule-bound labor practices changed little, but a flood of cheap money that followed the introduction of the euro helped keep the system going.
Then came the global financial crisis of 2008, which shrank Italy’s economy by more than 6 percent. Growth resumed in 2010, but was snuffed out in 2011 by the rising debt crisis, and the International Monetary Fund predicts “another decade of stagnation.”