Italy has economically underperformed most of its Euro-area peers for the last few years. Austerity-based policy measures adopted since the Global Financial Crisis of 2008-2009 have not helped, but the country’s underperformance is rooted in historical inefficiencies. Carlo Bastasin and Marcello Messori suggest the Italian government should present a contractual agreement to European institutions, an agreement aimed at reforming the country. This process of economic and administrative reform would need to be subject to rigorous monitoring by European institutions.
This link refers to a work produced by the LUISS School of European Political Economy.