By the time that the new constitution came into force at the beginning of 1948 a considerable stabilisation had taken place in Italy. Drastic credit restrictions imposed in August 1947 had forestalled what looked like being the collapse of the lira. When the restrictions were relaxed, imports rose and prices gradually fell. From the beginning of 1948 the value of Marshall Aid, originally offered in June 1947, was felt.
KeywordsSocialist Racialism Republican Party Agrarian Reform Christian Democrat Party Absentee Landlord
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