The third wave of terrorism in Europe has been the subject of numerous studies after David Rapoport's theoretical classification, especially as it relates to New Left/Marxist/Socialist activity. But one of its components has not hitherto been subject to scholarly investigation: the Italian neo-fascist terrorism that committed indiscriminate massacres as part of an alleged strategy of stoking political tension. There is evidence that members of the intelligence services and security forces contributed to cover-ups and indeed the neo-fascist murders that took place may have been aimed at creating an atmosphere favourable to a coup d'etat. While conspiracy theories abound there is little in-depth academic research on the circumstances despite the many sources available to researchers: court rulings, evidence gathered by various parliamentary commissions of enquiry and recently declassified official documents. Juan Avilés' comprehensive study of the neo-fascist killings, the coup plots, the cover-ups and the alleged but unproven involvement of US agents, the Stay Behind paramilitary structure and the P2 Masonic Lodge, draws a firm line of demarcation between the real conspiracies that took place in Italy and unfounded conspiracy theories. He offers an unparalleled interpretation of the alleged strategy of creating political tension based on all the available evidence. At the heart of the investigation is the threat to democracy and the way in which Italy was able to avoid the authoritarian drift to which many countries, from Greece to Chile, succumbed in those years. The lessons learned have far-reaching implications for all nations that subscribe to democratic values.