LONDON (AFP) -- The world economy will likely see slower economic growth in the coming months because of a correction in the United States' balance of payments deficit, Italy's finance minister said in an interview published Monday.

Speaking to the Financial Times, Tommaso Padoa-Schioppa said that the European and Asian economies were not strong enough to keep the global economy growing at a fast pace.
""I have never seen the correction of an external imbalance, such as the U.S. imbalance, occur without a slowing down of economic activity,"" he told the business daily.
""For demographic and other reasons, I do not think Europe can grow fast enough to compensate for the slowing down in the U.S.
""The east Asian bloc is huge in terms of the number of people, but not huge in terms of gross domestic product, so I see a period in which the sum of all debt leads to a likely slowdown in the growth of the world economy.""
Padoa-Schioppa said that growth would remain positive, however, because of ""exceptionally high"" economic expansion in recent years, though it would be ""a few percentage points less than we have seen recently.""
The minister added that he was hopeful that an agreement would be reached on revising voting powers at the International Monetary Fund at a committee meeting in April.
""The agreement on quotas and votes requires an acceptance by Europe to make room for an increase in the overall quota of emerging and low-income countries,"" he told the FT.
""I think it will be accepted. Europe as a group must accept a reduction in its share if we want to be consistent with the idea that percentages should add up to 100 and not 110.
""I am hopeful that the April committee meeting will reach agreement.""