Today, Italy is a democratic republic and a developed country with the 8th-highest Quality-of-life index rating in the world.[7] It is a founding member of what is now the European Union (having signed the Treaty of Rome in 1957), and a founding member of the North Atlantic Treaty Organization (NATO). It is a member of the G8 (having the world's 7th largest nominal GDP), Organisation for Economic Co-operation and Development (OECD), World Trade Organization (WTO), the Council of Europe, the Western European Union, the Central European Initiative, and a Schengen state. It has the world's 7th largest defence budget and shares NATO's nuclear weapons. On 1 January 2007, Italy began a two year term as a non-permanent member of the United Nations Security Council.
Excavations throughout Italy reveal a modern human presence dating back to the Palaeolithic period some 200,000 years ago.[11] In the 8th and 7th centuries BC Greek colonies were established all along Sicily and the southern part of the Italian Peninsula. Subsequently Romans refereed to this area as Magna Graecia as it was so densely inhabited by Greeks.[12][13][14] Ancient Rome, at first a small agricultural community founded circa 8th century BC, grew the next centuries into a colossal empire encompassing the whole Mediterranean Sea, in which Ancient Greek and Roman cultures merged into one civilization, so influential that parts of it survive in modern law, administration, philosophy and arts forming the ground where Western civilization is based upon. In its twelve-century existence, it transformed from a republic to monarchy and finally to autocracy. In steady decline since 2nd century AD, the empire finally broke into two parts in 285 AD, a western and an eastern. The western part under the pressure of Goths finally dissolved leaving the Italian peninsula divided into small independent kingdoms and feuding city states for the next 14 centuries, and the eastern part as the sole heir to Roman legacy.