InfoAnda - Japan PM warns of eventual default if debt not fixed |

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

EU banks 'sufficiently capitalised': presidency | 2 October 2009
Heir to The New York Herald Tribune dies at 95 | 21 April 2009
China shares rebound on bargain-hunting | 27 August 2009

Poirot star, golfer McDowell awarded UK honors | | 31 December 2010

Forum Views () Forum Replies ()

Read more with google mobile : Japan PM warns of eventual default if debt not fixed |

Edition: U.S. Article Comments (0) Save Email Print Reprints Most Popular Most Shared WRAPUP 10-U.S. doubles Gulf oil spill estimate 10 Jun 2010 Mandela great-grandchild killed in crash 2:43am EDT BP shares in focus after U.S. doubles spill estimate | Video 2:29am EDT Geithner signals U.S. patience waning on China currency 2:17am EDT Florida wants escrow funds as heavier oil washes in 10 Jun 2010 Sailor Abby Sunderland found: parents 3:10am EDT Analysis: In China, U.S. producer haven, rumbles of trouble 10 Jun 2010 WRAPUP 2-BP shares in focus after US doubles spill estimate 2:28am EDT BP eyes showdown with US govt on liability-BP source 09 Jun 2010 WRAPUP 2-BP shares in focus after US doubles spill estimate 2:28am EDT BP shares in focus after U.S. doubles spill estimate | Video 2:29am EDT UPDATE 2-Novartis' MS pill wins U.S. advisers' support 10 Jun 2010 Drugmakers to share data to speed brain drug research 12:07am EDT FBI begins probe into AT&T iPad security breach | Video 10 Jun 2010 Mandela great-grandchild killed in crash 2:43am EDT WRAPUP 10-U.S. doubles Gulf oil spill estimate 10 Jun 2010 Sailor Abby Sunderland found: parents 3:10am EDT Waiter, there's a potential carcinogen in my soup 09 Jun 2010 Scientists find autism has complex genetic roots 09 Jun 2010 Fourth "Twilight" film will be split in two 10 Jun 2010 Japan PM warns of eventual default if debt not fixed Yoko Kubota and Linda Sieg TOKYO Fri Jun 11, 2010 1:48am EDT Related News Q+A: What would a credible fiscal plan in Japan need to say? 1:48am EDT Japan's new Prime Minister Naoto Kan (C) enters the lower house hall to deliver his keynote speech in Tokyo June 11, 2010. Credit: Reuters/Issei Kato TOKYO (Reuters) - New Japanese Prime Minister Naoto Kan, seeking to lay the groundwork for a future sales tax rise, warned on Friday that the country risked defaulting on its borrowing if it failed to rein in its massive public debt. World | Japan Kan, who took over the nation's top job after his unpopular predecessor quit abruptly last week, has made tackling a public debt that is already twice the size of Japan's GDP a top priority amid market concerns about sovereign debt risk. "We cannot sustain public finance that overly relies on issuing bonds," Kan told parliament in his first policy speech. "As we can see in the euro zone confusion that started from Greece, there is a risk of default if the growing public debt is neglected and if trust is lost in the bond market." Kan spoke hours after his banking minister Shizuka Kamei -- an advocate of big spending, said he would quit the cabinet, improving the chances Kan can forge ahead with fiscal reform. The departure of the outspoken Kamei, sparked by a spat over a controversial bill to roll back postal privatization, removes one obstacle, but how aggressively Kan can implement fiscal reforms will depend on the results of an upper house election, likely on July 11. Support for the Democrats, who must win the July vote, has jumped since Kan took over, and Kamei's resignation could be another plus, analysts said. "It was a bit unusual for somebody from such a tiny political party to have this much importance, and with him gone the Kan administration is likely to strengthen its foundation going into the election," said Nagayuki Yamagishi, a strategist at Mitsubishi UFJ Morgan Stanley Securities "This could perhaps even lead to Kamei's party leaving the coalition -- and while this might seem like political instability to some foreign investors, this will really allow Kan's government a chance to stabilize." PNP Secretary-General Shozaburo Jimi, an upper house lawmaker, was expected to be given the portfolio, since Kamei's small People's New Party (PNP) remains in the ruling coalition. FISCAL REFORM PLAN, GROWTH STRATEGY National Strategy Minister Satoshi Arai told reporters the government was aiming to compile a medium- and long-term plan for reining in debt by June 22 at the latest, and that he wanted to base the program on capping government bond issuance at 44.3 trillion yen ($484.6 billion) in the year to March 31, 2012. Kan, Japan's fifth premier in three years, has called for a bipartisan debate on raising Japan's 5 percent sales tax to help fund bulging social welfare costs in an aging society, while Kamei has been cautious about such a move. Fiscal reformers in the Democratic Party want an election manifesto due out soon to include a reference to increasing the tax after the next general election, due by late 2013. Rating agencies have warned they could cut Japan's sovereign debt rating unless Tokyo crafts a credible plan to rein in debt. But analysts say the Democrats, who swept to power promising to put more cash in consumers' hands to boost domestic demand, would need to abandon some election pledges to slash spending. Kan also needs to twin his fiscal plans with a formula for engineering growth after decades of stagnation, experts say. "Ideally, the plan should be grounded in a broader economic policy framework including pro-growth structural reforms and clarity on the monetary policy objective," Andrew Colquhoun, director at ratings agency Fitch's sovereigns ratings team, said in an email. ELECTION PROSPECTS Kamei, known for attacks on free-market capitalism and pressing the Bank of Japan to do more to fight deflation, formed the PNP in 2005 with other rebels from the then-ruling Liberal Democratic Party to protest plans to privatize Japan Post. He resigned after the Democrats rejected his call to extend the current session of parliament, set to end on June 16, to enact a bill that would roll back those privatization plans. Democrats want the upper house poll soon to capitalize on a big leap in voter support after Kan took over, and extending the session would have pushed back the upper house vote. Analysts still question whether the Democrats can win an outright majority in the 242-seat upper house. But the party's chances have clearly improved since Kan took over from indecisive Yukio Hatoyama, who quit with his ratings in tatters just nine months after the Democrats swept to power. "My sense is that Kamei leaving will probably increase public support for Kan, because it looks as though he isn't going to be pushed around by Kamei," said Columbia University professor Gerald Curtis. "I wouldn't put any money on it, but I think there is a chance of a majority," Curtis added. "It all depends on how effective Kan is as prime minister." ($1 = 91.40 Yen) (Additional reporting by Elaine Lies and Charlotte Cooper; Editing by Sugita Katyal) World Japan Add a Comment *We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language or appear to be spam and review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. © Copyright 2010 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback Analyst Research Mobile Newsletters RSS Podcasts Widgets Your View Labs Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Other News on Friday, 11 June 2010
Defiant Iran could downgrade ties with UN atomic watchdog
Putin visits France amid warship row
China gets tough on World Cup gambling
Ex-workmate slams Kerviel's 'stratospheric' trades
Google drops background images on homepage amid outcry
US trade gap widens as Chinese imports surge
Dozens of Chinese websites warned over porn: state media
Grisly Afghan attack claims 40 lives, raises fear
Abbas: Hope eroding for two-state Mideast solution |
Serbians flock en masse to online rich list
Iraqi Shi'ite blocs announce merger |
China reverses stance with Iran sanctions support
Swiss national Goeldi freed from Libya jail-lawyer |
China wants more dialogue on Iran nuclear issue
Slums, displaced show challenges for Colombia leader |
Japan fail to get boost after being held by Zimbabwe
China, Russia seek new Iran nuclear talks
US drone strike kills three in Pakistan: officials
US fears for Myanmar refugees ahead of polls
US official: Fair Myanmar vote a must for refugees
Kewell fit and "up for" German battle
Australia pull out of 2018 World Cup bid
China's currency policy dampening global reforms: US
Thai PM reopens probe into Thaksin's 'war on drugs'
Blatter joins Twitterati in time for World Cup |
China trade surplus soars in May on export boom
Global markets surge on upbeat growth prospects
Nigerian villagers face child deaths for gold digging
Egypt to make Alexandria first smoke-free city
China's currency policy threatens global reforms: US
Mandela leads slew of big stars at World Cup opener
Shiseido sees rising labour costs in China
Red, La Cage lead tight race for Tony Awards |
Report details suicide attempt by Larry King's wife |
Edinburgh Fringe grows bigger than ever |
Thousands rock Soweto at World Cup concert |
Shawn Johnson tells court she feared accused stalker |
Iran leader in China after about-face on sanctions
Iran defies sanctions as West plans harsher measures |
Putin visits France amid warship row
Twitter launches own site for World Cup
Rescue under way for missing US sailor, 16
FBI opens probe into hack of AT&T website
BP chairman summoned to Obama meeting over oil spill
Kyrgyzstan says 17 killed, 201 wounded in riots |
Katy Perry Earns Second #1 With "California Gurls"
US more than doubles oil leak estimate
Twitter buys Web analytics firm
Abbas: Hope eroding for two-state Mideast solution |
Colombia's Santos has strong lead for runoff: poll |
"Girl With The Dragon Tattoo" Coming To DVD
Obama Congratulates Aquino As New Philippine Leader
Japan PM warns of eventual default if debt not fixed |
Guantanamo Prisoners Focus of Habeas Report Released By Former FBI Director
Army Secretary Axes Arlington Cemetery Officials Over Burial Anomalies
Heads dumped in Guatemala capital |
Dell Announces Settlement Talks With SEC Over Intel Relationship
On the brink of extinction, tigers need man as never before
Mandela relative's death clouds Cup start |
BREAKING NEWS: Indian Team Completes “Access” To Mumbai Terror Suspect David Headley
U.S. Markets Rise On Foreign Growth Prospects
Calderon demands probe of U.S. border deaths |
"Glee" To Debut Clothing, Games, Books And More This Fall
U.S. Senate Threatens China With Economic Sanctions Over Trade Imbalance
Hope for two-state solution 'beginning to erode': Abbas
Obama urges support for Iranian 'freedom'
Mexican president demands US probe of teen's death
Rare photo of slave children found in NC attic
Missing US yacht girl found safe in Indian Ocean
Minimum and maximum temperatures in Celsius
US casino cheat knows all the tricks of the trade
China police bust huge counterfeit ring
FBI begins probe into AT&T iPad security breach |
Chinese man convicted for selling son on Internet
Iran's Ahmadinejad blasts nuclear powers on China visit
U.S. industry eyes win in IT trade case versus EU |
News
Honda says two China plants to resume production
Britain's Standard Chartered lists in Mumbai
'US drone strike kills 3 militants in Pakistan'
China's inflation outstrips government target
Taiwan court cuts ex president's jail term
Japan PM: 'risk of collapse' from debt mountain
New Japan govt's corporate tax cut plans: minister
North Korea eye toppling mighty Brazil
US: China currency policy threatens global reforms
Japanese minister to resign over postal reform
Fujitsu, Toshiba to merge mobile operations
Designer from Nepal who cracked New York
India April factory production jumps 17.6 percent
India April industrial production surged 17.6 pct
US casino cheating expert knows all the tricks of the trade
Designer from Nepal who cracked New York
And the winner is... Zulu sangoma reveals all
Scotland tops list for lifestyle health risks: study
Fourth Twilight film will be split in two |
Rare exhibition of homosexual art opens in Warsaw
Obama Congratulates Aquino As New Philippine Leader
Taiwan pulls movies from Shanghai festival
How much does movie marketing matter? |
U.S. Teen Sailor In Solo Circumnavigation Bid Lost At Sea
Special Report: Guy Hands, Citigroup and the fight for EMI |
Army Secretary Axes Arlington Cemetery Officials Over Burial Anomalies
Oldest Leather Shoe Found In Armenia Is 5,500 Years Old
Katy Perry heats up U.S. singles chart |
‘No Parking’ Sign Goes Up In Front Of Park Car Ticketed Driver To Dispute Fine In Court
Woman Having Sex On Picnic Table Charged With Adultery, Public Lewdness
World Cup poses a challenge for studios |
Joan Rivers documentary provides laughs, poignancy |
US Silent Films Come Home From New Zealand
Texas Principal Fired For Child Neglect
Karate Kid and A-Team updates duel at box office |
Study: Personality Shown To Predict Fertility
Carpenters lead guitarist Tony Peluso dies |
Files Released In Roethlisberger Sex Assault Investigation
Bomb kills 9 in Afghan south: provincial official
Pope begs forgiveness for 'abuse of the little ones'
Aborigines to view Japanese spacecraft on landing
2 US troops, 11 Afghan civilians killed in south
Iraq suicide bomb kills 2 U.S. soldiers, 3 Iraqis |
Kyrgyzstan imposes emergency as clashes kill 37
Ahmadinejad calls UN resolution 'worthless paper'
Ahmadinejad blasts US, says Israel is 'doomed'
Katy Perry Earns Second #1 With "California Gurls"
Obama has made 'big mistake' with Iran: Ahmadinejad
Ahmadinejad calls resolution 'worthless paper'
Iran slams US after China about-face on sanctions
U.S., NATO urge patience with slow Afghan progress |
9 Afghan civilians killed by mine blast in south
9 Afghan civilians killed in mine blast
Iceland passes gay marriage law in unanimous vote |
Somali pirates free British-flagged ship |
Iran says U.S. kidnaps, illegally detains Iranians |
Pope begs forgiveness for sexual abuse scandal |
Attack on military convoy injures 14 in east Turkey |
China sentences school attacker to death
Sudanese killers of US envoy 'escape from prison'
Police in China's Xinjiang hold anti-riot exercise
Conflict seen between 2 deals for 9/11 responders
S.Korea, Russia probe rocket failure
Farm Worker Pleads Not Guilty To 12 Animal Abuse Counts
Interview: Bill Clinton to Dems, 'Never give up'
Actress Ashley Judd Invites Obama To Witness “Rape Of Appalachia”
Japanese minister resigns over vexed postal issue
CT Man Trapped Under Furnace Nearly Amputates Own Arm In Escape Bid
Botox Found To Ease Pain Of Nerve Disorder
Federal Agents Seize Imported Chinese Honey
Murder Trial Of Former BART Officer Begins
S.Korea to brief UN on ship sinking
Summit Officially Splits "Breaking Dawn" Into 2 Films
Wall Street rally pushes Asian markets higher
"Look Who's Talking" To Make Nick At Nite Debut
Motorola, RIM end licensing dispute |
India's industrial output up 17.6 percent
Reliance Ind. pays $1B for India broadband winner
India to make Bollywood Hitler movie
Reliance Industries pays $1 billion for Infotel
UK hip-hop on verge of breaking U.S. :Diddy |
Rapper Dr. Dre loses claims against former label |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01