Focusing on Italy's Middle East policies under the second Berlusconi (2001–2006) and the second Prodi (2006–2008) governments, this article assesses the manner and extent to which the observed foreign policy shifts between the two governments can be explained in terms of the rebalancing between a ‘Europeanist’ and a transatlantic orientation. Arguing that Rome's policy towards the Middle East hinges less on Italy's specific interests and objectives in the region and more on whether the preference of the government in power is to foster closer ties to the United States or concentrate on the European Union, the analysis highlights how these swings of the pendulum along the EU–US axis are inextricably linked to a number of underlying structural weaknesses of Rome's foreign policy. In particular, the oscillations can be explained by the prevalence of short-term political (and domestic) considerations and the absence of long-term, substantive political strategies, or, in short, by the phenomenon of ‘politics without policy’ that often characterises Italy's foreign policy.

Following the end of the Cold War, Italy took on greater responsibilities in dealing with the increased challenges to international security, especially in its neighbourhood. The aim of this special issue of the journal Modern Italy is to understand to what extent Italy has been successful in developing a third circle in its foreign policy beyond the two traditional lodestars, Atlanticism and Europeanism; or whether Italy's competence in the Mediterranean has been strategically used to improve its relationship with the United States or its position within the European Union.