The truth about Italy, possibly (7)
I believe the answer is:
reality
'the truth' is the definition.
(I've seen this in another clue)
'about italy possibly' is the wordplay.
'about' becomes 're' (common abbreviation for 'with reference to').
'possibly' indicates an anagram.
'italy' anagrammed gives 'ality'.
're'+'ality'='REALITY'
(Other definitions for reality that I've seen before include "as some TV programmes purport to show" , "Fact" , "State of things as they actually exist" , "It's faced by pragmatists" , "The way things are, no illusions" .)