Japan Worried over Greek Debt Crisis

Tokyo, May 7 (Jiji Press)--Japanese Prime Minister Yukio Hatoyama
said Friday that he is greatly concerned about the Greek debt problem that
has led to a financial market rout worldwide.
Hatoyama told reporters that his government needs to firmly cope
with the situation.
Hatoyama instructed Finance Minister Naoto Kan and other senior
Finance Ministry officials to cooperate closely with other countries in
dealing with the problem.
Chief Cabinet Secretary Hirofumi Hirano told a press conference
that the government needs to carefully watch how much impact the problem
will have on Japanese markets. At a separate press conference, Financial
Services Minister Shizuka Kamei said it would be inevitable for Japan to
suffer impacts from the Greek problem.
Administrative Reform Minister Yukio Edano said that taking
measures to control risks is more important than assessing the impact from
the ongoing crisis, thus stressing the need for Japan to step up its fiscal
reconstruction.
On Thursday, the U.S. Dow Jones industrial stock average plunged to
end at a two-month low. On the Tokyo Stock Exchange Friday, the 225-issue
key Nikkei average dived nearly 4 pct in the morning.
In foreign exchange trading in New York on Thursday, the dollar hit
a five-month low of 87.95 yen at one point, while the euro briefly dived to
110.49 yen, the lowest level since December 2001.


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