Closer euro area integration ‘pays off,’ says Italy’s finance minister

European leaders can build trust in addition to fight populist threats by touting the economic benefits of closer integration, Italian Finance Minister Pier Carlo Padoan said Thursday.

In a CNBC Facebook Live interview at the entire world Bank in addition to International Monetary Fund’s Spring Meetings 2018 in Washington, Padoan said strengthening euro area reforms would likely build more trust across the bloc.

“Integration pays off in terms of improving living standards, improving job opportunities, improving welfare,” Padoan said. “This particular must be much strengthened, in addition to also dealing with poverty in addition to those of which are left behind within the integration process.”

Padoan said countries like Italy are “doing their homework” when the idea comes to reducing risk within the euro area in areas like non-performing loans in addition to debt reduction. Italy can be currently stuck in political gridlock as its parties have been unable to form a government more than one month after national elections.

“Italy has been implementing reforms over the recent past in addition to these are already producing tangible results, nevertheless also asking for Europe, which looks at stability, rigor, nevertheless also growth in addition to jobs,” Padoan said.

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