'Europe's problem is Europe' - Padoan (3)

(ANSA) - Davos, January 18 - Italian Economy Minister Pier Carlo Padoan on Wednesday said "Europe's problem is Europe" and that "problems start in Brussels, and sometimes in Frankfurt", speaking at a panel discussion on the middle class at the World Economic Forum. "We have to completely upend policies, because now they are giving convincing arguments that populism is right," he said.
    Padoan said that the middle classes of advanced economies, particularly those in Europe, are disillusioned about the future and disappointed about possibilities, which causes them to "say no to anything political leaders suggest". He said under these conditions "finding solutions is harder than saying no.
    "It's the sign of a crisis that calls for a rethinking of leadership".
    Padoan said policymakers must have vision in order to spur economic stakeholders to action, and that "especially in Europe, that vision is missing, and this is the challenge that Brexit and Trump are posing to us". He added: "I'm sorry to be pessimistic but that's the way it is".