> Maybe that'd make for a good startup? We outsource your government!
It's been tried, and it was incredibly profitable.
http://en.wikipedia.org/wiki/British_East_India_Company
Indeed, it was in a sense the origin of the modern limited-liability corporation, the foundation of modern capitalism. Not so good for the people whose government was outsourced, though.
Of course, if things get bad enough, Italy could always adopt a successful country's laws and practices. Just pretend to be a German provice, for example; follow all their laws and proceedings, adopt their charter, etc, etc. Then after a while once things stablize it can be customized to fit Italy.