In the case of Italy, many of the more common assumptions about the impact of the crisis on employment relations do not fit. We briefly outline the main traditional features of joint regulation and labour market policy in Italy and then illustrate how the crisis erupted in a situation already marked by major defects. We go on to discuss the social partners’ positions and practices showing how the crisis influenced social dialogue and collective bargaining in a complex way. They largely maintained their previous organizational strength and continued to play a central role in the regulation of labour; yet, a significant, unexpected change was the more autonomous role assumed by the state. In the medium term, this may eventually result in a deep transformation of the whole labour relations system.