The worldwide financial meltdown of 2008 managed to miss Italy, and its neighboring countries of
Greece and Spain. At that time, Italy?s budget deficit was moderate by Eurozone standards, and their banking system
was in good shape. The country didn?t experience the collapse of any of its banks, such as had happened with the
Northern Rock bank in the UK, or Lehman brothers in the US; and it didn?t suffer from a housing market boom and
bust.