The tiny hilltop village of Trevinano in central Italy is turning into a test site for Europe’s most ambitious economic experiment since the creation of the region’s single currency.  The hamlet of 142 residents, which just secured a 20 million-euro ($22 million) grant from the European Union’s Recovery Fund, is now confronting the even bigger challenge of spending taxpayers’ money wisely enough to ensure a lasting economic legacy. 

One of a small club of villages in Italy set to receive cash aimed at fighting depopulation, Trevinano showcases the on-the-ground reality of converting the bloc’s financial largess and good intentions into something more than a local lottery win.