Tag Archives: Azumi

Japan says no decision on buying South Korean debt, disputed island row continues

The Japanese government has not reached a decision yet on whether it will buy South Korean government debt, Finance Minister Jun Azumi said on Friday, as a diplomatic row escalates between the two countries over a territorial dispute.

Azumi reiterated that the government might not extend a currency swap arrangement with South Korea after it expires in October.

Purchases of South Korean government debt and the currency swap were part of efforts to strengthen economic ties, but further cooperation has been thrown into doubt due to diplomatic tensions that have been growing in Northeast Asia.

“I want a little time to see how things develop,” Azumi told a media conference.

Read the rest of the story: UPDATE 1-Japan says no decision on buying Korean debt, island row festers.

Japan calls on German ‘central role’ in euro ‘firewall’

Japan called on Germany on Friday to step up and help plug the widening hole in Europe’s finances, saying Berlin should play a leading role in creating a debt "firewall".

Finance Minister Jun Azumi said the continent’s largest economy needed to do more if Europe was to get out of the downward spiral of debt that is threatening to tip the global economy into recession.

"It is important for Germany to (play) a central role in creating a firm funding scheme that we can refer to as a firewall," Azumi told a news conference, Dow Jones newswires reported.

Read the rest of the story: Japan calls on German ‘central role’ in euro ‘firewall’.