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Thursday, 3rd June 2010
In Business In Japan,

Bank of Japan issue debt warning

A member of the board for the Bank of Japan has warned of the uncertain economic outlook for the country on the back of the ongoing eurozone crisis.

Financial turbulence in Europe has been impacting markets and stocks all over the globe and Miyako Suda has now warned that the Japanese economic recovery could be put at risk by the problems.

She also urged the Japanese government to make strong efforts to repair its finances and expressed hope that the country's new prime minister would come up with a medium and long-term fiscal reform programme.

Prime minister Yukio Hatoyama stepped down this week after a number of high profile scandals involving high ranking members of his party as well as sharp falls in public favour over a controversial US military base.

Speaking at a news conference in Japan, Ms Suda said: "Regardless of who becomes the leader, I hope the government comes up with the plan. Otherwise trust in the government's policy may be affected."

Written by Mark Smith.

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