What was the IRI Italy?

What was the IRI Italy?

The Istituto per la Ricostruzione Industriale (IRI) was an Italian public holding corporation founded by the Fascist administration in 1933 to rescue, reorganize, and finance banks and private firms that went bankrupt during the Great Depression. The IRI also developed large industrial complexes in Italy and abroad.

Its main instrument for doing so was a stock market-listed company called Enel, which it created in 1934. At first, the IRI had only modest success: its investment portfolio lost most of its value between 1933 and 1938. However, after the end of World War II it made many more successful investments, especially in electricity production and distribution. By 1954, it had become Europe's largest electric utility company. In 1971, it was split into several independent companies.

Enel is now Italy's leading electricity producer and distributor. It is also involved in water supply, heat production, and some other industries.

The IRI helped hundreds of companies by providing them with capital, know-how, and market access. Although it was officially forbidden to invest foreign funds in Italy, many British, French, American, German, and Japanese investors did so anyway. Between 1933 and 1951, the government of Mussolini approved almost 1,000 financial agreements with countries all over the world. The IRI also invested heavily in industrial projects overseas.

What happened to Italy during the Industrial Revolution?

Between 1897 and 1913, the northern part of Italy was ravaged by the Industrial Revolution. Giovanni Agnelli established the Fiat Works in Turin in 1899. Steel facilities were erected in Piombino and Elba, and the steel barons founded Genoa's powerful Ilva company, which opened a facility near Naples in 1908. The revolution also brought electricity to large parts of Italy for the first time.

In fact, industrialization transformed not only Italy but the entire world. The Italian economy grew rapidly during this time, becoming one of the largest in Europe. It also experienced its own version of the social problem as poverty increased due to the need for more expensive food after the introduction of modern machinery.

After unification in 1871, Italy embarked on a program of national modernization, including the development of heavy industry, commerce, and transportation. In addition, it fought several wars between 1866 and 1945 with great success. In 1911, Italy became the first country in the world to enter the nuclear age when an electric generator produced at the University of Rome's Politecnico Institute was tested successfully inside a vacuum chamber. This pioneering effort led the university to award America's Westinghouse Company with a contract to supply 100 more generators for use in new power plants.

Italy's participation in World War I proved vital to its future stability and prosperity. After the war, the nation developed itself into an important trade union and manufacturing powerhouse.

What form of government did Italy have during World War II?

Italy under Fascism (1922–1943)

Kingdom of Italy Regno d’Italia
GovernmentUnitary authoritarian constitutional monarchy (1922–1925) Unitary constitutional monarchy under a fascist one-party totalitarian dictatorship (1925–1943)
King
• 1900–1946Victor Emmanuel III
Prime Minister and Duce

What type of government is Italy post-WW2?

Italy under Fascism (1922–1943)

Kingdom of Italy Regno d’Italia
ReligionRoman Catholicism
GovernmentUnitary authoritarian constitutional monarchy (1922–1925) Unitary constitutional monarchy under a fascist one-party totalitarian dictatorship (1925–1943)
King
• 1900–1946Victor Emmanuel III

What happened when Italy joined the United Nations?

Italy ratified the United Nations Charter on December 14, 1955, to become a member of the Organization. Throughout these decades, Italy has worked tirelessly to produce General Assembly and Security Council resolutions that have made significant inroads into international law. In addition, it has played an active role in many other international organizations.

When Italy joined the United Nations, it was as a founding member of what is now known as the Group of 77 (G77) plus China. The G77 is an economic alliance where countries share resources and conduct joint negotiations with the goal of promoting development through trade. Members do not pay dues to join the group; rather, they agree to follow the agenda set by the president of Mauritius, who serves as president of the group. Currently, the G77 has 77 members including China but does not include Russia or South Africa because of their absence from various meetings.

Within the United Nations, Italy has been influential in creating several important bodies. It currently holds one of the five rotating seats on the UNSC. The other four are held by the United States, China, Russia, and France. In addition, it plays a key role in the work of several other important UN organs including the Human Rights Council, the World Trade Organization (WTO), and the Financial Reporting Initiative (FRI).

About Article Author

Desiree Swartz

Desiree Swartz is a passionate teacher who loves to help others learn. She has been teaching for over 10 years and enjoys every day that she gets to go to work. Desiree enjoys teaching all ages, but her favorite are the elementary students because they make such great students she says.

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