Many people dream of living in Italy but jobs being short, this may be an alternative where you make your own job --and of course, the expectation if you create more jobs and value for Italians.
[addendum]Besides, most likely Italy would be your 'base' and Europe, NAmerica, etc your market --so the poor state of the Italian economy may not enter much into the equation about viability due to local economic climate.
Disclaimer: I'm Italian, and I'm from Naples.
http://i.imgur.com/ZR1hNnr.gif
The difference between northern and southern Italy is staggering, it's like they're two entirely different countries...
Having said that, I agree with many others saying that it's not a great idea to go to Italy for startups.. things are moving and are improving compared to 5 or 10 years ago but in no way comparable to other places in UE (let's compare for example Berlin, London or Paris with Milan or Rome...)
[1] http://www.payscale.com/research/IN/Job=Software_Developer/S...
You know how much the state takes from your (revenue - expenses)? At least 66%.
It's not State XOR Mafia. It's state AND Mafia. As if state alone was not enough.