The book analyzes the different phases that have characterized the
evolution of the pol-icy framework and the economic governance of the
European Union and the Euro Area since the end of the global financial
crisis (2007-2009). This analysis, which is found-ed on a careful
reconstruction of those "right" or "wrong" economic ideas that have
"ruled" the European world until the pandemic shock (to paraphrase the
final remarks of Keynes' General Theory), is crucial to appreciate the
importance of the ground-break-ing initiatives undertaken by the
European policy makers and institutions in 2020: the ultra-expansionary
monetary policy and the Next Generation EU. These initiatives are
opening an unexpected scenario for the Italian economy, which is the
main beneficiary of both initiatives. The aim of the book is to explain
why Italy has wasted several chances over the first two decades of this
century but cannot miss this new opportunity. To get ready for the
post-pandemic world, the time is getting short. Italy must accept the
challenge and start its difficult recovery pathway.