The year is marked by the return of Giovanni Giolitti as Prime Minister. He will dominate Italian politics until World War I, a period known as the Giolittian Era in which Italy experienced an industrial expansion, the rise of organised labour and the emergence of an active Catholic political movement.[1]
February
February 13 – Venezuelan crisis. After agreeing to arbitration in Washington, Britain, Germany and Italy reach a settlement with Venezuela, resulting in the Washington Protocols. The naval blockade that began in December 1902 will be lifted, and Venezuela commit 30% of its customs duties to settling claims.