Japan draws up plans to protect economy if Greek elections cause eurozone turmoil

Politics Jun. 15, 2012 - 06:13AM JST ( 14 )

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14 Comments

3

globalwatcherJun. 15, 2012 - 06:41AM JST

Japan, be "BOLD" to execute what has been written here.

This financial tsunami will be worse than Lehman collapse in 2008. US is also raising firewalls again this event.
-3

some14someJun. 15, 2012 - 07:29AM JST

there should be assets worth protecting, here it's nothing but huge deficit (national debts). Japan's overseas assets (self-proclaimed) are safe outside of japan.
3

paulinusaJun. 15, 2012 - 09:05AM JST

Greece is small potatoes with an economy of miniscule proportions. This is much ado about nothing. Just markets being neurotic.
0

ExportExpertJun. 15, 2012 - 09:14AM JST

Which ever way it goes just get it over and done with, this has been dragging on for way too long, sort it get it fixed or get the pain over and done with.
0

Herve Nmn L'EisaJun. 15, 2012 - 09:22AM JST

The Grexit is just the warm-up for Spain and Italy.
0

WakarimasenJun. 15, 2012 - 10:03AM JST

Yen will strengthen, market will fall. Not much can be done to prevent that.
-1

gaijinfoJun. 15, 2012 - 02:31PM JST

Just markets being neurotic.

Not markets being neurotic. Politicians trying to show how important they are.
-1

tmarieJun. 15, 2012 - 02:35PM JST

**Japan is quietly drawing up contingency plans to protect its economy and financial markets **

Um... me thinks they are about 20 years too late for that!
1

cracaphatJun. 15, 2012 - 03:04PM JST

Protect what ? Japan has been in the longest mother of all recessions for nigh on 20 years.Waste of time drawing up a contingency plan.By the time it's enacted a new bubble economy would have begun.
0

Krishan Kumar GuptaJun. 15, 2012 - 10:04PM JST

Japan under these conditions should expand its manufacturing base outside Japan in friendly countries like India.It would be able creat assests at very reasonble cost,Not only that,it would succeed in increasing it global market share substantiall as the cost of production would be much lower than its current production in Japan.This would also increase travelling abroad by japanese.This could, perhaps,be the most productive way to check the impact of safe heaven currency staus of Yen in the long term.
1

YuriOtaniJun. 15, 2012 - 11:43PM JST

They should of let them fail years ago when it would not been so much of a problem. Now the water behind the dam is spilling over and when the dam bursts it will be catastrophic.
0

kchozeJun. 16, 2012 - 04:46AM JST

They should of let them fail years ago when it would not been so much of a problem. Now the water behind the dam is spilling over and when the dam bursts it will be catastrophic.

Who? Greece?

Greece should never have been in the Euro... nor any european country I think, the Euro was a huge mistake. However, they couldn't do it, you know why? Who do you think pumped Greece full of cheap credit and now owns Greece's debts? That's right, German and French banks. If they let Greece fall, their own investors will lose fortunes, their attempts at keeping Greece inside the Euro were all about making sure that the Greeks would be on the hook to repay every single cent of the debts, even if the investors jacked up interest rates to usury levels.

In other words, they are making the Greeks suffer, giving them just the minimum to prevent a crash, so their investors can profit. But they might fail. Even if the pro-austerity parties win, they will likely fail... in fact, I'd say ESPECIALLY if the austerity parties win, they will fail. There is no way out of this crisis as long as Germany imposes its hard money and austerity policies on the rest of the Eurozone.
0

sfjp330Jun. 16, 2012 - 05:25AM JST

kchozeJun. 16, 2012 - 04:46AM JST. their attempts at keeping Greece inside the Euro were all about making sure that the Greeks would be on the hook to repay every single cent of the debts, even if the investors jacked up interest rates to usury levels.

How long could Greece hold out with no bailout money? Probably for many, many years if they stop paying the interest on their debts. Greece could also get short term loans by pledging hard assets Greek government owns. The odds of Greece leaving the euro are extremely low. The odds of Greece having to actually go through with a strategic default are also low. If Greece doesn't leave the euro or go through with a strategic default then that would take a lot of pressure off of the financial markets and particularly the financial industry.

Even if Greece moving off the Euro to the Drachma will not be a big deal. It's just one fiat currency for another. Greece illustrates why everyone should be buying stocks and gold. The Euro, U.S. Dollar, and Japanese Yen are all flat currencies backed by no hard assets and no limit of how much can be issued. The small country of Greece with only 11 million people, has racked up around many billions in public debt. It’s a battle of the uglies. The Euro Central Bank doesn’t need to be paid back as the ECB can merely print off more Euros out of thin air. U.S. Federal Reserve Bank does the same thing.
0

svidetic@gmail.comJun. 18, 2012 - 11:38PM JST

Eurozone turmoil will not take away from the global market for adidas, BMW, Citroen, Siemens ... eurozone progress will not bring the production of innovative global trends in Greece