Financial Times (February 8)
2010/ 02/ 08 by jd in Global News
Is Japan “the ｎｅｘｔ Greece?” At roughly 200% of GDP, Japan’s gross debt exceeds that of Greece. Standard & Poor’s has warned of a possible downgrade of Japan’s sovereign debt. Yet, the Financial Times believes Japan’s situation is very different from Greece and urges Japan not “to apply the fiscal brakes just yet,” but rather focus on strengthening the recovery. Furthermore, the newspaper urges the Bank of Japan to be more aggressive in fighting deflation.
