Japan’s Abe Warns of Lehman Sized Crisis as per Data

By Unknown

Kamis, 26 Mei 2016

Japan’s Abe Warns of Lehman Sized Crisis as per Data

Japanese Prime Minister Shinzo Abe warned his counterparts from the Group of Seven of a crisis on the scale of Lehman Brothers, the Nikkei reported, providing a potential justification for delaying again an increase in the national sales tax.

Abe presented data at a Thursday meeting of the G7 summit it hosts, showing that raw material prices fell by 55 percent since 2014, the same margin they fell in the global financial crisis, the newspaper said, interpreting this as "warning of the re-emergence of a Lehman-scale crisis."

Abe has promised to raise Japan's sales tax to 10 percent from 8 percent in April next year as planned, unless a financial crisis on the scale of the collapse Lehman or a major natural disaster.

via CNBC

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