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U.S. Treasury's Lew says Europe banks need to continue clean-up

Reuters
United States Secretary of the Treasury Jacob Lew attends a panel for the High-level Tax Symposium held in Chengdu in Southwestern China's Sichuan province, Saturday, July 23, 2016. REUTERS/Ng Han Guan/Pool (Reuters)

CHENGDU, China (Reuters) - Europe's banking system is stronger as a whole due to reforms put in place in recent years but banks should continue to clean up balance sheets and address legacy quality issues, U.S. Treasury Secretary Jack Lew said on Sunday. Lew made the comments in a meeting with Italian Economy Minister Pier Carlo Padoan on the sidelines of a G20 meeting of finance ministers and central bankers in China, according to a statement from the Treasury. (Reporting by Brenda Goh; Editing by Jacqueline Wong)