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Fascist regime

The turbulence that followed the devastation of World War I, inspired by the Russian Revolution, led to turmoil and anarchy. The liberal establishment, fearing a socialist revolution, started to endorse the small National Fascist Party, led by Benito Mussolini. In October 1922 the fascists attempted a coup (the "March on Rome"), supported by king Victor Emmanuel III. Over the next few years, Mussolini banned all political parties and curtailed personal liberties, thus forming a dictatorship.
In 1935, Mussolini invaded Ethiopia, resulting in an international alienation and leading to Italy's withdrawal from the League of Nations. Consequently, Italy allied with Nazi Germany and Empire of Japan and strongly supported Franco in the Spanish civil war.
In 1939, Italy occupied Albania, a de facto protectorate for decades, and entered World War II in June 1940 on the side of the Axis powers. Mussolini, wanting a quick victory like Hitler's Blitzkriegs in Poland and France, invaded Greece in October 1940, but was forced to accept a humiliating stalemate after a few months. At the same time, Italy, after initially conquering British Somalia and parts of Egypt, saw an allied counter-attack lead to the loss of all possessions in the Horn of Africa and in North Africa.
Italy was then invaded by the Allies in July 1943, leading to the collapse of the Fascist regime and the fall of Mussolini. In September 1943, Italy surrendered. The country remained a battlefield for the rest of the war, as the allies were moving up from the south as the north was the base for loyalist Italian fascist and German Nazi forces, fought also by the Italian resistance movement. The hostilities ended on 2 May 1945. Nearly half a million Italians (including civilians) died in the conflict,^[42] and the Italian economy had been all but destroyed; per capita income in 1944 was at its lowest point since the beginning of the 20th century