Japan says ready to help in stemming eurozone debt crisisMay 19, 2012 - 10:34 AMT PanARMENIAN.Net - Japan said that it stood ready to extend help in stemming the eurozone's debt crisis as the Group of Eight major industrialized nations opened crisis talks, according to AFP. Japan, the world's third largest economy and only Asian power in the elite G8 club, has already been a major contributor to an IMF firewall aimed at holding back Europe's woes with a $60 billion commitment unveiled last month. Japan's Prime Minister Yoshihiko Noda will argue in the talks that Europeans hold foremost responsibility in addressing the crisis, foreign ministry spokeswoman Naoko Saiki told reporters on Friday. "At the same time, in order to help the Europeans solve the European debt crisis, Japan is ready to extend its assistance," Saiki said. "The European sovereign debt crisis may endanger the health of the world economy, so we would like to encourage the Europeans to cope with the matter appropriately as soon as possible," she said. Further assistance by Japan could include support for the International Monetary Fund or efforts to increase the safety net in Asia, she said. The G8 talks at the US presidential retreat of Camp David look set to pit President Barack Obama and newly elected President Francois Hollande, both advocates of pro-growth policies, against German Chancellor Angela Merkel who has championed austerity measures. Japan straddles both positions in the G8. It has sought to stimulate its economy after last year's tsunami tragedy but Noda is championing a politically risky plan to double sales tax to rein in a giant public debt. Noda will hold his first meeting with Hollande on Saturday, May 19 aimed at part at discussing a proposal to launch talks on an ambitious free trade agreement between Japan and the European Union, Japanese officials said. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Lithuania sending €100,000 to help Armenia fight floods consequences Armenian Prime Minister Nikol Pashinyan took to social media to thank his Lithuanian counterpart for the contribution. U.S. “deeply troubled” by Azerbaijan's arrest of civil society members The United States is deeply troubled by the continued arrest of members of Azerbaijani civil society, Matthew Miller has said. Turkey condemns Uruguay’s recognition of Armenian Genocide Turkey has condemned a newly passed law in Uruguay that recognizes the Armenian Genocide, TRT reports. For the first time, Armenia votes in favor of Georgia resolution in UN Armenia on Tuesday, June 4 voted for the first time in favor a resolution adopted by the United Nations General Assembly. |