Reuters: Japan PM Warns Of Eventual Default If Debt Not Fixed
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.
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.
Read the entire article here.
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.
Read the entire article here.
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