Non-performing loans “take too many years to be recovered, we’re talking about seven to 10 years,” Di Maio told Bloomberg Television in an interview in London on Wednesday. “We must shorten the time it takes to recover them by eliminating a series of Byzantine laws.”

Di Maio, 31, who was in London for a closed-doors meeting with some 30 fund managers and analysts from the U.S., Britain, France and Switzerland, said they had urged him to speed up the Italian judicial system.