Interpretation

The italian power be at a low ebb.
And their allied nazis will hang on to their Third Reich
While the opposition and the italian partisans
Will prevent them from reaching their goals.

History

It is the beginning of the end for the italian armies when the allies land in Sicily:
July 25, 1943 1943.
The landing of the allies in Sicily shakes the position of Mussolini. (le pouvoir romain) King Victor-Emmanuel is already on the look-out for other personalities.... At the great Fascist Council, July 24, Dino Grandi pleads for the king's return as commander-in-Chief of the armies; Mussolini gives a report on the military situation and insists on the necessity of a closer alliance with Hitler against the allies. The next morning, he is told by the king that Badoglio will form a new government. As he leaves the castle, Mussolini is arrested and his partisans are made prisoners. On the 28, the Roman radio announces the end of fascism. (du tout à bas).
(Translation F.L. - Chronique du 20e Siècle - Jacques Legrand)

While he is attacked from all sides and Germany suffers the repeated bombings of allied planes, Hitler insists on trying to conquer the world and revive the Third Reich (imiter les vestiges):
Anzio, February 3, 1944.
The allied bridgehead «must be crushed in the blood of english soldiers» These are Hitler's very words. Yesterday, these soldiers have suffered a massive shelling of artillery while the german 14th army prepares a huge counter-attack on the british salient.
(Translation F.L. - Chronique de la Seconde Guerre Mondiale - Jacques Legrand)

The italian partisans have been of great help in the war agains the Germans:
(P.374) Soon, under his leadership, many divisions of Giustizia e Libertapartisans were born (occultes haines civiles). But, on september 22, the village of Bowes in the piedmont is set to fire by the nazis by way of first reprisals. The cruel war of the partisans also begins in Italy. In the eyes of the nazis, Italy must pay for its treason and some officers even pride on making a new Poland of its land... ( P.398) Everywhere, in this mountainous country of Italy, the partisans have organized themselves. The communist party Garibaldi Brigades (november 1943) whose general headquarters are in Milan, Patriotic Action Groups and the Squadre d'Azione Patriottica (S.A.P.), now extend their operations and multiply assassination attempts. (occultes haines civiles)
(Translation F.L. - L'Italie de Mussolini - Max Gallo)

The italian people have finally realized that Mussolini and fascism has been their downfall and Hitler and Mussolini were but clowns thirsting for blood and conquestLes Italiens ont enfin compris que Mussolini et le fasciste les avait mené à leur perte et que Hitler et Mussolini n'étaient, en fait, que des bouffons assoiffés de conquête et de sang:
(P.405) Once more, the last hour of fascism seems to have arrived. On June 6, the news of the landing in Normnandy confirms all hopes. On the 10, a Bononi government is constituted with the six leaders (among them Croce, De Gaspari, Saragat, Togliatti) of the C.L.N. parties. Victor-Emmanuel III gives up his place to Umberto, lieutenant général of the kingdom. For Italy, the end of the nightmare is near. (retarderont aux bouffons leurs folies). Strikes take place in Torino and Milan; the partisans multiply their attacks.