politics

Japan considering $60 bil contribution to IMF

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© 2012 AFP

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same news repeated so many times or this is an additional contribution by Japan?

1 ( +1 / -0 )

The headline says all the Japanese need to know about the government's focus.

Poor Tohoku people.

6 ( +6 / -0 )

Is Tohoku relevant to the government & Big Business thus worthy of help?

0 ( +2 / -2 )

Though the money may not go directly to Tohoku; if the rest of Japan goes down the drain because of global economic melt-down, then Tohoku will be even further up the creek.

3 ( +3 / -0 )

to prevent contagion from the fiscal problems in Greece, Ireland and Portugal spreading to bigger members such as Spain and Italy, the report said.........

Throwing more money at this problem is not going to fix anything, just prolong the blight. Until these countries are allowed to go bust and have a complete reset of their spending habits and mind set, the problem will persist. If the rest of the world feels some pain, that too is necessary, we all living way beyond a stable economic system.

2 ( +2 / -0 )

Where does JPN have such money to give out???

2 ( +2 / -0 )

Japan is considering lending about $60 billion to the International Monetary Fund to help strengthen a global firewall against contagion from the European sovereign debt crisis

What percent is the interest rate ?

2 ( +2 / -0 )

meanwhile, the salaries of all professors and teachers were cut by 8%...

2 ( +2 / -0 )

This money could be building geothermal power plants within Japan. Shame on them!

2 ( +4 / -2 )

I'm pretty sure we can find another thread that's been posted either today or over the past few days on how taxes must be raised because there are not enough funds for social services (and the excuse that it's to rebuild Tohoku), and yet here's the government again offering money that could help the people up north, or help with general domestic problems. I'm all for helping out others and donating money, but given the problems Japan faces domestically, and given that it has the largest national debt of any G8 nation, I think there's a time when you've got to focus on your own needs and problems.

5 ( +5 / -0 )

Borrowing more money to give to IMF. Pointless.

3 ( +3 / -0 )

Now the Japanese debt is soaring to a higherevel, how wonderful!

1 ( +1 / -0 )

Good post SmithinJapan and exactly right, but the problem is not so much Japan per se as the Japanese political elites who are trapped in some 1980s time warp of still thinking Japan's got loadsa money and they still want to walk big on the global stage by dishing out their citizens' taxes to any lost world cause or another.

The japanese political elites should get with the program, if they want us to pay more taxes, they've got to spend those taxes wisely and on the Japanese, and not some spoilt Europeans whose quality of life is 10 times that of the average japanese.

-1 ( +0 / -1 )

I'm worried the Japanese gov't is spending money it doesn't have. I hope they don't go down the same road as some European countries.

1 ( +1 / -0 )

This is a contiguous fund: it exists to balance multinational government funding against private investor raiders. Think about it a bit like defense: if a raider knows the "enemy" has ample ability to fight off an attack on a bond issue, that enemy will be less likely to risk the attempt. This means that putting up the additional funds means that it is less likely that they will be used - they'll sit like an uncashed check in a drawer.

Regarding spending, southern Europe is falling into a deflationary trap. Governments there need to walk a very fine line between controlling their spending and igniting full-scale deflation. Demanding budget cuts simply for their sake would be counter-productive; rather, emphasis should be placed on eliminating waste and fraud so that the money available can be used more efficiently.

0 ( +0 / -0 )

Is Tohoku relevant to the government & Big Business thus worthy of help?

@Seirei: touche! Very good question.

0 ( +0 / -0 )

Krugman wrote today about Europe in the NYT - it is definitely worth a read.

http://www.nytimes.com/2012/04/16/opinion/krugman-europes-economic-suicide.html?_r=1&hp

0 ( +0 / -0 )

"Lending"? Perhaps they could do the same for TEPCO? For a poor country with no money who needs to rasie taxes, we sure do like to throw the yen around.

-1 ( +1 / -2 )

How about the struggling communities in Tohoku? Forget the greedy fat cats in Europe who overspent.

1 ( +1 / -0 )

People, people, Japan isn't as dumb as you may think. As we should have all learned, the world's financial markets are inextricably linked so this kind of contribution is to help protect Japan from the effects of Europe's economic woes. And maybe Japan's financial situation isn't as bad as you might think.....

-1 ( +0 / -1 )

I am interesting opinion from Hatoyama. What he told about it?

200% debs, PAC-3, Aegis, 11/03, IMF, yens grow up... what next? Japanese politics some understand what they doing?

That news is very bad for Japan. Japanese politics so mad, so sad...

0 ( +0 / -0 )

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