An old film director, unhappy with the movie he's shooting about a Hungarian circus stranded in Rome during the 1956 anti-Soviet uprising, faces divorce from his producer wife and other problems.
On Christmas Eve, three friends dressed as Santa Claus are arrested in what looks like an attempted burglary and charged with being the infamous "Santa Claus Gang". While trying to prove their innocence to the police, the trio explains why they found themselves in such a strange situation...
Michele is a Communist MP who loses his memory in a car crash—although nobody seems to notice. Over the course of a water polo match ahead of election day, he begins to remember his past life, revealing the picture of a man whose personal and political identity crisis mirrors the one of Italian communism.
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