These facts and feelings are also engendering widespread ‘anti-globalization’ sentiment, as well as doubts about the European project. This reaction has deep-rooted causes on which I shall spend a few words later but first of all, let me point out that this is one of the most compelling reasons why coordination between the German and Italian presidencies is so important.
We must exploit synergies and join efforts to reach the broadest possible consensus among advanced and emerging economies, taking actions that can stem what I see as a potentially dangerous spiral of rising disaffection and protectionism.