Propaganda Due (P2) was a Masonic lodge under the Grand Orient of Italy, founded in 1877. Its Masonic charter was withdrawn in 1976, and it transformed into a clandestine, pseudo-Masonic organization operating in contravention of Article 18 of the Constitution of Italy that banned secret associations. In its latter period, P2 was implicated in numerous Italian crimes and mysteries, including the collapse of the Vatican-affiliated Banco Ambrosiano, the murders of journalist Mino Pecorelli and banker Roberto Calvi, and corruption cases within the nationwide bribe scandal Tangentopoli. P2 came to light through the investigations into the collapse of Michele Sindona's financial empire.
P2 was sometimes referred to as a "state within a state" or a "shadow government". The lodge had among its members prominent journalists, members of parliament, industrialists, military leaders, and the heads of all three Italian intelligence services.
Outside Italy, P2 is stated to have been active in Uruguay, Brazil and Argentina.