Friday, October 28, 2011

Japan urges more action on euro crisis

Wall Street Journal
October 28, 2011

Japan’s new prime minister has signalled his country will contribute to the eurozone’s revamped bail-out fund, but called on EU leaders to make “even greater efforts” to resolve their sovereign debt turmoil.

In an interview with the Financial Times, Yoshihiko Noda, prime minister, on Friday welcomed what he called the “comprehensive agreement” on bank refinancing and Greek debt restructuring reached by European leaders this week.

But he made clear the world’s third-largest economy remained deeply concerned about possible contagion from the European crisis despite the deal, which analysts say left many important issues unresolved.

“Now we would like even greater efforts from within the EU and eurozone to ease crisis worries by creating a stronger and more detailed approach,” Mr Noda said, adding that Japan and other nations needed to set out policies for economic growth and fiscal reconstruction.


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