A look at the lives of Carlo, Giulia, and their friends some 10 years after the events of L'Ultimo bacio.

Inspired by the work of Italian underground comic book prodigy Andrea Pazienza, Paz! is a 24-hour slice of life of a bunch of students living in a flat in Bologna during the 70's, divided between marjuana, university, girls and political activism.

Giulia and Carlo have been happy together for three years, but Giulia's announcement that she is pregnant sends him into a secret panic. Terrified at his imminent entry into the adult world of irreversible responsibilities, Carlo finds himself tempted by a bewitching 18-year-old girl, Francesca, whom he meets by chance at a wedding. The possibility of one last youthful crazy fling before the impending prison of parenthood proves to be too attractive to resist.

Teenage problems intertwine during the occupation of a high school in Rome. Silvio—much like his peers desperate to lose his virginity—wants to make his move on the girl he likes, despite her being already his friend's girlfriend and not knowing that her best friend harbors feelings for him—while clashing also with his parents, onetime Sixties radicals who look down on the kids' aimless political commitment.