Italian Finance Minister Pier Carlo Padoan today took aim at the EU, saying it was creating its own problems because of a lack of vision, and called on policy makers to take populism seriously.
"The problem in Europe is Europe," he told the World Economic Forum (WEF).
"The challenge the Brexit and Trump is posing is that there is a vision. You may agree or disagree with that vision, But there is a challenge that the Brexit is posing and Trump is posing. We don't have a vision in Europe, not a vision that is comparable" in terms of impact, Padoan said during a debate.
"All those who vote for populist ideas are not the bad guys. In most cases they are good guys, they are fellow citizens and they have real concerns about the future of their children, job opportunities, concerns about security," he added.
"In many, if not all the European countries, there is a strong (position) to say that our problems are generated in Brussels or sometimes in Frankfurt, it depends where you live," he said.
Italy, which is one of the EU's founding countries, is in the EU Commission's crosshairs for failing to cut its debt mountain to below 60 per cent of its gross domestic product (GDP) as required by eurozone rules.
Rome and Brussels have been discussing ways to avoid punitive measures against Italy.
Rome's 2017 budget calls for a deficit of 2.3 per cent of GDP, well above the 1.8 per cent demanded by Brussels to make a dent into its debt level which stood at 133 percent of GDP last year -- the second worst of any EU country.
Italy asked for leniency due to exceptional costs linked to earthquakes and extra spending on a massive influx of migrants.
In November, the EU Commission told Italy and seven other countries to improve budgetary discipline or face sanctions.
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