Three Italies: a revolution in family incomes

A new survey on the household budgets by the Bank of Italy gives food for thought on the evolution of the Italian economy. We were used to think that the Italian regions follow two different patterns: the North, with European standards of living, and the South, the Mezzogiorno, trying to catch up but always far behind.
The Italian central bank (Banca d’Italia), who has a very efficient research center, released the results of its biennial survey, with some surprising results.