How Italy might spend an eight-ship treaty allowance

What Italian capital ships could fit within an eight-ship treaty allowance?

Four Francesco Caracciolos plus selected rebuilt dreadnoughts could fit, but Italy probably could not retain all of its older ships as well.

The proposed eight-ship ratio creates a tonnage budget of roughly eight 35,000-ton units. Four Francesco Caracciolos would absorb much of it, leaving room for selected Conte di Cavour or Andrea Doria reconstructions. Older ships such as Dante Alighieri and the Regina Elena class would be difficult to retain within the same permanent allowance. They might survive temporarily until the new ships commissioned, but the final fleet would still require deliberate choices rather than simply keeping everything.