THE Italian economy has been a laggard for years. In the final quarter of 2013, it registered scant growth of just 0.3 percent at an annual rate, and that was a great improvement.

Before that, it had shrunk for nine consecutive quarters. The economy remains smaller than it was 14 years ago. Unemployment has climbed to nearly 13 percent, twice its level in early 2008.

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Source: http://www.nytimes.com