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Italy is heading towards zero growth in 2008 and despite being the euro zone's third largest economy, it appears to be heading into recession. While a large turnout is expected in Italy's election on April 13 - 14, few voters seem to believe they see much change in the country's economic performance. Italy is heading towards zero growth in 2008 and despite being the euro zone's third largest economy, it appears to be heading into recession. While a large turnout is expected in Italy's election on April 13 - 14, few voters seem to believe they see much change in the country's economic performance.