Italy

In the heart of Rome beside the Capitol, confronting the Piazza Venezia, stands the Victor Emmanuel monument. In Rome, which until 1945 was so often accorded the adjectives 'eternal' or 'imperial', the monumentissimo (as sardonic socialists labelled it) is the most public, most theatrical and most excessive architectural celebration of post-Risorgimento Italian patriotism, nationalism and perhaps imperialism. This book asks why the Victor Emmanuel monument, planned after 1878 and opened in 1911, was a structure raised by Liberal and not Fascist Italy. Through a detailed study of diplomacy, of policy-making, of policy-makers, and of the distribution of real power in pre-First World War Italy, it demonstrates how important foreign policy, and a foreign policy of greatness, was to Liberal Italy. Weakened by economic backwardness, regional diversity, and the gulf between the legal-political world and 'real' society, Liberal Italy was nonetheless ambitious to be a Great Power. This monograph contributes to a number of major historiographical debates. It produces evidence which casts doubts on the thesis that fascism was a parenthesis in Italian history.

In this major interpretation of the crisis of democracy in Italy after World War I, Douglas Forsyth uses unpublished documents in Italy's central state archives, as well as private papers, diplomatic and bank archives in Italy, France, Britain and the United States, to analyse monetary and financial policy in Italy from the outbreak of war until the march on Rome. The study focuses on real and perceived conflicts and often painful choices between great power politics, economic growth, macroeconomic stabilisation and the preservation or strengthening of democratic consensus. The key issue explored is why governments in Italy after World War I, although headed by left-liberal reformers, were unable to press ahead with the democratic reformism which had characterised the so-called 'Giolittian era', 1901–1914. Their failure paved the way for parliamentary deadlock and Mussolini's seizure of power.