Italy’s well is running dry. The country’s water system is under severe pressure, made worse by climate change. The government is trying to address the crisis with big projects. But Italy also requires deeper reform of the entire sector in order to attract private capital.

Italians use a lot of water: 220 litres a day compared with 165 litres on average across Europe, says think-tank Ambrosetti. It is getting harder to find. Last year was the hottest on record. Rainfall was about 50mm lower than average. This year is looking little better.

The country experiences severe water stress. About 40 per cent of the population have suffered rationing. That is bad news for olive groves and vineyards. The agriculture sector lost €6bn of revenue last year.