I personally did not consider Italy to be as expensive as to be considered in this list but it still managed to take the tenth spot. Italy borders with France, Switzerland, Austria and Slovenia. It takes the fifth spot when it comes to the most populous countries all of Europe with around 60,813,326 inhabitants. The currency in Italy is obviously Euro. The country is a Unitary Parliamentary Constitutional Republic with Giorgio Napolitano as the President and Mario Monti as the Prime Minister. Italy is a member of the G8, G20 and also NATO and has the third largest gold reserves in the world.