France and Italy: What if too much baggage has been inherited from the past to hope for an improvement?

It is still hoped that the structural reforms will pave the way for an improvement in the French and Italian economies. These reforms have targeted the labour market, the education and training system, public sector efficiency and taxation. But in reality, have France and Italy not accumulated so many problems and impediments over a long period that there is now very little hope for improvement? These impediments , or baggage inherited from the past, concern in particular public finances, labour force skills, corporate modernisation, cost competitiveness and profitability, and the vicious circle between the employment rate and public transfer payments.