Japan ready to help in euro crisis at G8 talks

Is the EU ready to bail out Japan? With all the money Japan is giving, I sure hope this is a two way street with regards to help. Because let's face it, Japan is going to need it. Very soon.

And once again Japanese politicians promise the money of people in Japan for everyone OUTSIDE Japan when domestically it's needed more than ever. Noda will return from this summit and IMMEDIATELY try to convince the opposition party to debate the need for tax raises.

Let greece and those other lazy europeans go, none of them want to pay taxes or work a 8 hour day but still expect high pensions and other hand outs, time to kick them into touch, japan should not be throwing more money at this bunch of wasters.

lol how is japan ready? ready to print more money? whtabout the bonds due leter this year?

Sorry, I wanted to qualify my earlier comment. I respect that Japan always wants to help out (on the surface, anyway) and contribute to issues like the Eurozone crisis, but other nations need to realize that JAPAN needs the money for a myriad of domestic problems -- from rebuilding Tohoku to the national pension plan -- and JAPAN needs to realize this as well. Is there NO other way they can contribute to a cause besides throwing money at it? At least in Iraq they were helping to build infrastructure!

ExportExpert Kick those lazy Europeans into touch,eh? If Greece drops out of the Euro, the knock-on effects could be catastrophic for the economies of 'hardworking' countries. Macho conservatism is the last thing we need.

Jimizo if greece had of been sorted out 4 years ago then the rest of the world would not have this hanging round our neck dragging us all down now, the sooner we take the bitter pill the sooner we can all move forward, unitll then we got these wastrels dragging us all down. KICK EM WELL INTO TOUCH and hurry up !

Where is the money to help everyone in Japan?! How annoying it is a taxpayer seeing our money go overseas to help european countries who overspent. Wheres the money for the people of Tohoku? I think everyone would much rather see their taxes go there.

I'm not an economist or neither something like a politicians, but we all know that if Eurozone will fall down as a conseguence of Greek crysis there will be struggling links with USA and Asia as well! Helping EU is a good thing for the entire world, but I'm so in love with Japan that I must admit internal problems comes first....EU does not deserve japanese help since our politicians are stealing money from decades on!

ExportExpert Hindsight is a wonderful thing. I take it by 'sorted out' you mean 'kicked out'. The problems of the Euro are less to do with laziness than the greed of France and Germany who profited at the expense of poorer nations. Just labelling Greece ( Ireland? Portugal? Spain? ) as 'lazy' is pretty offensive. In answer to 'high pensions and handouts' ,Germans have generous pensions, comprehensive social security and have longer holidays and work fewer hours than Americans or Japanese. Are they also lazy?

The germans traditionally have paid taxes and dont take 2 hour siestas in the middle of the day, their work force is productive and is not mainly employed by the state, you cannot compare germany to greece no matter how hard you try.

ExportExpert It was the sweeping generalisation of 'lazy Europeans' that I was getting at. Would you include Ireland in your list of 'lazy Europeans'? Are their problems due to an oversized public sector and 2- hour siestas?

Jimizo

those other lazy europeans

refers to those who are lazy it does not refer to all europeans, please try alittle comprehension.

My comprehension is fine. I'll ask you clearly : WHO are these lazy Europeans? Greeks and....?

Why didnt UK to help EU, didnt she is a key member?

Bankrupt states promising more aid to other bankrupt states.....the world has gone mad....

dont take 2 hour siestas in the middle of the day

Seems you've never been to Germany if you think they don't. Much like France, a tourist hell if you are looking for food or shopping at lunch time! That being said, I agree with the taxes and productivity! Which is a reminder that long hours at work doesn't equal productivity!

Throw more bad money after worse! Don't think so, Japan's pockets aren't that deep or well lined. How can they? There's no money to fix the decaying ( unnessiary ) infrastructure anyway.

The Japanese government knows that a Greek exit from the Euro will lead to more investors flocking to the yen. The high yen is hammering Japan's exports. Keeping Greece alive is in Japan's interest. This is one of the few occasions when Japan is actually using tax in the interests of the taxpayer.

Jimizo

My comprehension is fine. I'll ask you clearly : WHO are these lazy Europeans? Greeks and....?

Sorry Jimizo I do not know them all by name and if i did it would take too long to list them all in alphabetical order for you. p

I'm afraid Jimizo is correct, but the irony that Japan, a nation that has incurred enormous public debt to maintain the illusion of prosperity and to keep the same bureaucratic and political pirates in power, would propose to do this is amazing.

By the way, whatever German workers do at lunch time, they are more productive per hour worked than Japanese workers.

How can Japan help when they themselves have a huge debt, where's it coming from. Pride comes before a fall

Oh! Finally I get it! The Greeks are lazy and certain individuals in other European countries are lazy. ExportExpert you've cracked it! The Greeks should go back to the Drachma and the lazy individuals in Spain should use the peseta while the hard workers should retain the Euro. A Nobel Prize is in the post....

60 billion to the EZ while those displaced by the NPP disaster are not being compensated or even properly cared for ??? How can The Japanese government find an extra 60 billion for Europe yet turn a blind eye to the domestic needs of the disaster victims? Politicians are ugly people with cold hearts...These foreign aid loans are yet another slap in the face for those in Japan have been displaced and are suffering in desperation. Why is it that governments around the globe are not caring for the same people that supply the money they give away?

I wonder how would those tsunami refugees think when they heard this news!?

David WagnerMay. 19, 2012 - 07:39PM JST

Bankrupt states promising more aid to other bankrupt states.....the world has gone mad....

I could not agree with you more, and the things are getting worse, not better.

David WagnerMay. 19, 2012 - 07:39PM JST

Bankrupt states promising more aid to other bankrupt states.....the world has gone mad....

I could not agree with you more, and the things are getting worse, not better.

Japan has a large amount of foreign reserves and it is part of this money which will be moved to Europe. If Japan wants to use that money domestically, it has to convert it back to Yen, which would make the Yen go through the sky. If Japan doesn't want to hurt it's exporting industries even more, in the current situation investing it into stabilizing the Euro and other Asian currencies is probably the best it can do.

Excellent post, gonemad. If that's the case, move part of European reserve money back to Japan for internal domestic spending on Tohoku Recovery Act. That seems to be a WIN/WIN strategy for Japan to me.

It is infuriating to see Japanese politicians wanting to sink more taxpayers money into the giant sinkhole that Euro project is.

The only way to solve the Greek (and following that the Spanish and Portugese) problem is an EXIT from the Euro, and not yet more bailout money to save the impossible project.

Jimizo:

" ExportExpert Kick those lazy Europeans into touch,eh? If Greece drops out of the Euro, the knock-on effects could be catastrophic for the economies of 'hardworking' countries. Macho conservatism is the last thing we need. "

If Greece stays in the Euro, the knock-off effects are even more catastrophic for the economies of hard-working countres. Get real. Europe worked just fine with national currencies and the higher interest and inflation rates of the PIIG countries, The regular devalutions of the Greek and similar currencies were a natural and necessary adjustment mechanism.

The current disaster in the Eurozone is a result of the common currency and was EXACTLY predicted by the Euro critics like e.g. Milton Friedman before the Euro was introduced. Now what the critics said is happening.. Pudding - proof.

The way to correct a mistake is to reverse it ---- and not to double up on it.