Photo Gallery Italy's Dire Crisis
A man checks his change purse in front of the Duomo gothic cathedral, in Milan, Italy. The country has been in the grips of a dire economic crisis, with the manufacturing sector especially hard hit.
Stores are closing, tradespeople are being let go, manufacturing is collapsing all over Italy, especially in the south. Many young academics are leaving the country. While the competition has expanded over the past two decades, productivity in the Italian manufacturing industry has stagnated -- as has growth.
Italian Prime Minister Matteo Renzi after delivering a speech to parliament in Rome in June. The 39-year-old gained power by promising to abolish the cliques and old power structures that have dominated the Italian economy. In recent months, however, he has faced setbacks.
Demonstrators clash with police in Naples, Italy near an European Central Bank (ECB) meeting in October. The head of the ECB, Mario Draghi, has stated that he believes Italy lacks the "right structural policies" for an economic turnaround.
Anti-austerity protesters in a demonstration in Naples in October. Many of the country's problems have longstanding causes, like, for example, it's high tax on businesses, which is the highest in Europe.
Containers at the port in Salerno wait to be loaded onto ships. Italy's debt and the number of bankruptcies and unemployed people are perpetually setting new records.
