Well, nobody said that the Regia Marina had more modern ships than the Kriegsmarine. And certainly, the British Mediterranean fleet did not have many modern ships. They had old ships as well the Italians had.

The problem was not the equippment, anyway. It was the leadership. Italy had the resources to kick the British's asses by itself.

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"War is less costly than servitude, the choice is always between Verdun and Dachau." - Jean Dutourd, French veteran of both world wars

"A mon fils: depuis que tes yeux sont fermes les miens n’ont cessé de pleurir." - Mère française, Verdun