It is very hard to see France and Italy reindustrialising

Deindustrialisation is exacerbating political tensions in France and Italy due to the loss of skilled, relatively high-wage jobs and the resulting rise in structural unemployment. Reindustrialisation is therefore a key economic policy objective in both countries, but it is very hard to see this reindustrialisation taking place, given their: Low labour force skills and hiring difficulties among industrial companies; Weak corporate capital modernisation; Cost competitiveness disadvantage , which the functioning of their labour markets is not correcting; Low corporate profitability relative to other OECD countries, which may discourage investment. At best , reindustrialisation will be a slow process that will require the French and Italian economies to climb up the value chain.