One of my friends who lived in Italy until under 10 months ago told me that the economy in Italy it's going down for real, right now. I don't know if he is right but you can consider that answer.
NO. India, China, and Brazil all have bigger economies.
nope, i dont think anyone knows why Italy's even in the G7. just a meeting with the two NA countries of the US and Canada and the main countries of the EU, which unsurprisingly ended sourly .