Italy's finance minister delivered an upbeat tone on his country's banking sector but highlighted that major hurdles still remain in the euro zone, including in Germany.
Germany might be known as the powerhouse of the euro zone economy but it has its own banking problems to deal with, Pier Carlo Padoan told CNBC on the sidelines of the Ambrosetti Forum on Sunday.
"I think that there are some German banking problems and I'm confident the German authorities will deal with them," Padoan said when asked about remarks made by former Prime Minister Matteo Renzi last year.
"Germany has been the country that has by far poured much more public money into the banking sector in terms of the hundreds of billions of euros in the past when the rules where different of course. This is a sign that maybe we all have to recognize that we have problems and we all have to recognize that we need to cooperate much more effectively to provide European solutions to those problems," he said.