Spanish Civil War Francisco Franco Nationalists Felice Guarneri Spain Italy France
Italy was ill-prepared for war, in spite of the fact that it had continuously been involved in conflict since 1935, first with Ethiopia in 1935–1936 and then in the Spanish Civil War on the side of Francisco Franco's Nationalists. 
Mussolini refused to heed warnings from his minister of exchange and currency, Felice Guarneri, who said that Italy's actions in Ethiopia and Spain meant that Italy was on the verge of bankruptcy. By 1939 military expenditures by Britain and France far exceeded what Italy could afford. As a result of Italy's economic difficulties its soldiers were poorly paid, often being poorly equipped and poorly supplied, and animosity arose between soldiers and class-conscious officers; these contributed to low morale amongst Italian soldiers.
