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A communist Italy in 1912 and the likely European reaction

An alternate-history question places a revolutionary Italy on central Mediterranean shipping routes before the First World War.

Question

What if Italy became a communist dictatorship in 1912?

Short answer

Its Mediterranean position would likely provoke economic isolation or multinational intervention, and any surviving regime would probably lose Italy's empire.

Notes

A communist takeover in Italy in 1912 would, in this scenario, alarm several powers because of Italy's position on Mediterranean shipping routes. The response expects economic isolation or intervention, potentially beginning before the takeover was complete. Austria-Hungary and Germany are suggested as possible intervening powers, with Britain and France also willing to assist. A surviving revolutionary government is expected to lose Italy's colonial possessions. A later follow-up adds Russia, whose purchases of Italian weapons and designs would give it another reason to become involved.