[inglor_cz]

Italy used to be quite an industrial powerhouse when I was young.

I still remember visiting the country in 2000, and even though the lira was weak, the overall atmosphere was much more lively, optimistic and vibrant. Contemporary Italy feels worn down and without hope. Too many young people with diplomas have simply fled.

I get the same vibe in Spain, by the way, and in many cities of the former GDR, which is actually part of Germany. Dresden is fine, but Hoyerswerda, Chemnitz or Zittau are semi-deserted and feel distinctly "over": no future for them, only slow decay. The local political scene reflects that: the anti-system AfD gets plurality of votes, just to stick it to the "elites".

[mmarq]

Italy was already significantly behind Germany and far from the technological frontier in the 1980s, it wasn’t the euro that slowed its growth.

Then it took 40 years of obscene governments to bring it where it is now.

[harperlee]

> it wasn’t the euro that slowed its growth

This only follows from the first phrase if you assume that one and only one thing can slow Italy.

[mmarq]

TFP growth has stopped in the mid-70s or in the 80s at best, there isn’t much more to say.