Italy is a member of NATO and is a founding member of the European Union. The Italian Republic is a parliamentary democracy that was established in 1946, following a referendum that abolished the monarchy. Greeks settled in the southern tip of the Italian Peninsula in the eighth and seventh centuries B.C. Politics of Italy is conducted through a Parliamentary Republic with a multi-party system. Noun 1. and being the republic of Italy as we know today. Italy has been a democratic republic since 2 June 1946, when the monarchy was abolished by popular referendum and a constituent assembly was elected to draft a constitution, which was promulgated on 1 January 1948. Italian Republic synonyms, Italian Republic pronunciation, Italian Republic translation, English dictionary definition of Italian Republic. The United States has had warm relations with the Kingdom of Italy and after 1946, its successor, the Republic of Italy. Article 1 of the Italian Constitution states: Italy is a democratic Republic, founded on labour. Birth of the Italian Republic. Sovereignty belongs to the people and is exercised by the people in the forms and within the limits of the Constitution.. By stating that Italy is a democratic republic, the article solemnly declares the results of the constitutional referendum which took place on 2 June 1946. The Italian Republic was the successor of the Cisalpine Republic, which changed its constitution to allow the French First Consul Napoleon to become its president. The new constitution changed the name of the state to the "Italian Republic"; it consisted of the same areas that had comprised the Cisalpine Republic, primarily Lombardy and Romagna.. Italy was one of the original signatories to the Treaty of Rome in 1957, and is today one of the principal members of the European Union. Currently, the United States and Italy share strong bilateral relations.