Italy has the third largest economy within the Eurozone which has been essential in
maintaining sustainable development and has the eighth largest economy in the world. The fact
that Italy is one of the founding countries of the European Union has played a crucial role in
ensuring that it is profoundly entrenched in the operations of the union which has been essential
in maintaining a steady economy. The healthy economic development within the country which
has been influenced by the integration of the European Union provides a greater understanding
of critical processes which are essential in defining better outcomes. Therefore, this paper
presents a detailed analysis of Italy economy with a vital focus on how the economy in Italy
influences its commitment to the European Union.
After the second world war, the Italy economy was significantly transformed with the
adoption of the industrialized economy from the agriculture-based economy with a critical
focus on creating a sustainable economic development within the region. The development of
small and medium-sized companies within the country played a crucial role in defining better
outcomes which provided a greater emphasis on essential concepts which need to be evaluated
and provided a greater focus on key results. Italy is a country with few natural resources, and
thus there is need to integrate strategic concepts which provide a stronger engagement where
it would be possible to achieve better outcomes (Picciotti et al., 31).
The development of the Italy economy has been defined by weak economic growth and
high rate of unemployment as well as high inflation. The implantation of the recovery plan in
the 1980s was instrumental in improving the country's economy considering that they
implemented strategic aspects such as reconstructive monetary policies which were integral in
positive growth and increase of the country's economic value. The state-owned companies were
essential in promoting the country's ec...