Part 2/11:
Italy's public debt-to-GDP ratio exceeds a daunting 140%, making it one of the most indebted nations in the world. The roots of this crisis are multifaceted, stemming from decades of budget deficits, sluggish economic growth, and structural weaknesses that have hindered the government's ability to generate sufficient revenue to service its debts. The dire state of Italy's economy was exacerbated by the global financial crisis of 2008, which forced the government into costly bailouts of troubled banks and the implementation of austerity measures—steps that further stifled growth.