Its courageous leaders have defiantly ignored all threats and blandishments of powerful Communist elements from within. and they have also bravely faced even more serious totalitarian threats from without. In the sphere of economics and finance. they have been successful in making Italy a solvent country. and have succeeded in maintaining its solvency. Even with the loss of some territory to Yugoslavia. and the inevitable overcrowding of the already densely populated country with refugees from lost areas. Italy has managed to look after the welfare of its needy citizens. In the important fields of commerce and industry the Republic has made tremendous progress.
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refugees