The level of debt and the budget deficit in Japan "are unsustainable over the medium term" and the Government must act with a plan of containment measures.
is what calls the Deputy Director General of the International Monetary Fund (IMF ) Naoyuki Shinohara, the conference in Tokyo. For
Shinohara "if the situation persists current budget, there will be problems for sure," hoping that the country can be reached "as soon as an agreement on a plan to consolidate the budget."
Shinohara also pointed out that Japanese banks should strengthen further provisions for the capital and center of international standards, using mainly capital increases.
Thomas Byrne, senior vice president of Moody's indicated that Moody's does not include actions on the sovereign ratings of Japan and supports the assessment of Aa2 with a stable outlook. In late January Standard & Poor's, however, had lowered its rating of Japan one step to AA-. Meanwhile
from Britain arrive data on the trade deficit in December. In the last month of last year the trade deficit in the UK amounted to 9.2 billion pounds, a record by far 1980.
For the full year 2010, preliminary data released by the National Statistics show a red 97.4 billion compared to 82 billion in 2009.
Last Monday, January 31 Prime Minister David Cameron had insisted that the British economy needs consumer and business confidence''and the best way to build confidence and 'action on deficit and debt.'' ''The worst thing we can do 'say that we are not knocking down our debt,''Cameron told the BBC, adding that 2011 will be a challenging year''but the government has chosen the right path and people understand what we are doing.'' The premier also stressed he had also that''if we do not act on deficit and debt we find ourselves in the situation of Greece and Ireland.''
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