The IAI, together with the ‘Luigi Einaudi’ Centre for Research and Documentation and UBI Banca, organized a conference on May 8 to present the 16th Report on the global economy and Italy. Edited by Mario Deaglio and published in partnership with the ‘Luigi Einaudi’ Centre and UBI Banca, the report analyses the events of 2011, with the aim of identifying some major trends in the global crisis which has not yet come to an end and from which, whichever way you look at it, there seems to be no way out.