Azumi calls on Europe to act 'responsibly' to solve debt crisis

Politics Jun. 06, 2012 - 04:15PM JST ( 23 )

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23 Comments

3

smithinjapanJun. 06, 2012 - 12:58PM JST

Let me guess... when Jun was done with his hypocritical speech he offered to throw billions of yen towards Europe's debt crisis as an example of responsibility?
7

cubicJun. 06, 2012 - 01:06PM JST

I call on Azumi to solve Japan's national debt crisis 'responsibly'
-1

ProbieJun. 06, 2012 - 01:51PM JST

“As the big aim is to overcome the crisis, Europe in particular needs to act appropriately and responsibly,”

Like the way Japan did after 3/11...

Immediately after the conference call late Tuesday, Azumi said he had been given assurances by his European counterparts that they will work to fix the problems gripping the continent.

Yeah. The assurances went like this:

Yeah, yeah, alright, ...yeah, okay, yep, we hear you, loud and clear... yes, we'll sort it out, thank you Japan, thank you, thank you byeeee....
-5

tokyokawasakiJun. 06, 2012 - 02:07PM JST

Pot calling the kettle black***. What a hypocritical request.
3

OnniyamaJun. 06, 2012 - 02:41PM JST

I call on Japan to act 'responsibly' to solve nuclear crisis.
-1

NetNinjaJun. 06, 2012 - 02:46PM JST

Let he who is without sin cast the first stone. This guy should be no where near the mic.
2

WeaselJun. 06, 2012 - 03:24PM JST

Azumi could have summed up his speech in one sentence by saying, "do as I say, and not as I do."
-1

tmarieJun. 06, 2012 - 03:32PM JST

Pretty funny considering how "responsible" Japan is with money...
2

NeoJamalJun. 06, 2012 - 04:37PM JST

The main difference between Europe and Japan is that Japan can afford to blow the fiscal budget because it's a nation with high savings. Contrast that to Greece, Italy and Spain: with major current account deficits and foreign banks buying up their risky sovereign debt.

Having said that though, when will Japan start to ignore the construction and agricultural lobbies who are sucking our welfare budget dry? Why are Japanese banks still buying US treasury bills while telling our needy SME owners to go screw themselves? I suppose these are all 'traditions' carved in stone by our most sacrosanct MITI fathers back in the good 'ole days. Unfortunately those days are long behind us and we need new initiatives and leadership, and I'm no fool to entrust my future on those overpaid buffoons in Kasumigaseki.
1

darknutsJun. 06, 2012 - 04:47PM JST

This is like the clown telling the business man not to act so silly.
0

WakarimasenJun. 06, 2012 - 04:57PM JST

Europe could do with somwe expert advice from Japan on how to manage their debt.
2

JimizoJun. 06, 2012 - 05:18PM JST

Japanese businesses are living in terror of a Greek dropout and a possibly a Spanish dropout down the line. More uncertainty, more panic and an even bigger flight to the yen. Some analysts are predicting the yen could go as high as ¥60 to the US dollar. I'm not sure that 'throwing' money at Europe is so irresponsible .
1

Thunderbird2Jun. 06, 2012 - 06:44PM JST

Why are the stock exchanges in control of the world's economies anyway? Why are these dealers permitted to cause currencies to lose value because they are worried where their next Porsche will come from?

These people and bankers caused this global recession... they need to shoulder the blame and not bring countries to the edge of financial oblivion.
-1

ExportExpertJun. 06, 2012 - 07:34PM JST

Plus one big vote for thunderbird2 on that, these reckless greedy self centered people who created this whole situation need to be held accountable and not be able to dictate our economic plight.

I also think if europe had acted responsiblily to begin with then there would not be this crisis in greece and spain etc. I also think that it is beyond europe to bring this situation under control and they are still only interested in them selves as we have witnessed over the last few years with the demonstrations and change in govt.

The rest of the world needs to step in and take control or we stand by and watch the whole thing crumble, which is probably going to happen anyway.

I also think no matter what, that greece and spain will drop out of the union, i only wish they had of already so we were already on the way forward instead of being held down by the uncertainty of it all.
2

JimizoJun. 06, 2012 - 08:46PM JST

There is plenty of blame to be shared around. From governments creating enormous structural deficits ( not only European ) and deregulating the markets. Bankers are hired and fired at breakneck speed depending on performance - they will take risks to reach targets. It was the governments of the US and UK who were the main architects - Reagan, Bush, Clinton and Bush junior were quite happy for the casino to determine our finances. My anger is mostly concentrated at governments who STILL haven't done anything like enough to stop this happening again.
-1

PT24881Jun. 06, 2012 - 11:32PM JST

Good try indeed to pour oil into fire. Europe will have no means to fight back now & Mr. Jun Azumi talked BIG like a grand minister !
0

SeiharinokazeJun. 07, 2012 - 01:02AM JST

Let the central bank (ECB) use the magic wand "purchasing operation." Print more money as well as raise funds from rich benevolent though ignorant countries like Japan and buy bonds from banks and supply large quantities of funds in the market. Thus the debt crisis in EU is having a temporary lull and then a relapse alternately (countries which should go into default still remain in euro and CDS has not been implemented), while Germany as an export-oriented economy may enjoy very good times when the euro is at its cheapest. But EU will be collapsing gradually as poured money brims over to America.
-1

sasakamaJun. 07, 2012 - 08:18AM JST

Remember, here in Japan, our dept level is so high that our financial minster should outline the roadmap to nations on how we resolve dept crisis responsibly. That would be somethings everybody thinks about. It's a matter of time. I'd like to emphasize that the heart of the government strategy is not on scandal solving, but on taxation, social security, economy and the education.
1

Ben JackJun. 07, 2012 - 12:42PM JST

Japan needs to clean its own house before commenting on the housekeeping of others.
0

globalwatcherJun. 08, 2012 - 04:23AM JST

Azumi-san, your backyard is filled with dog's poo-poo too. When do you start cleaning them up?
-3

nigelboyJun. 08, 2012 - 04:56AM JST

Azumi-san, your backyard is filled with dog's poo-poo too. When do you start cleaning them up?

Didn't know Japanese banks needed to recapitalize.
0

Thomas Michael LewisJun. 08, 2012 - 09:10PM JST

What an incredibly hypocritical selfish thing to say. Mr Izumi, people in Greece are losing homes, giving their children to churches and orphanariums because they cant afford to feed them, and suicide rates have skyrocketed, all to try and sort the economy out. Yet you have the nerve to accuse Europe of not taking this seriously. Shame on you.

And Jimizo dont try and blame the UK and US for Europes state of affairs when they are, not brilliant, but functionally well enough, if the EU was a stable as it always boasted it was, a problem in the Anglo markets would not have caused them so much stress. The UKs growth is weak, why? Because most of our trade is with the EU -they stopped our trading with the Commonwealth.

If Europes "stability" cant cope with the Anglo model which has successfully operated its logical predictable boom/bust scenario for centuries then I suggest its not stable at all. Trying to create a stable system out of something human operated is stupid anyway.

Best to ride the crests and troughs of lifes waves then browse high on the trough then smash straight into the crest.
0

JimizoJun. 08, 2012 - 10:55PM JST

@Thomas Michael Lewis Haven't you heard the expression that when America sneezes the rest of the world catches a cold? You seem to be an apologist for the economics of the casino. This meltdown originated in the US and nobody was immune. I will quite happily criticise the Euro, a means by which Germany and France could make money from poorer members. That doesn't shift the epicentre. Oh, by way, the reason for poor UK growth is the misguided austerity policies of Osborne and Cameron which has sent the UK into a double-dip recession.