Noda Says Japan Ready to Assist Europe if the Region Acts First

Japan’s Prime Minister Yoshihiko Noda said his country is prepared to do what it can to help Europe if the region first shows it can gain back investor confidence. Japan doesn’t have a fixed amount of European Financial Stability Facility bonds it buys every time the debt is issued, Noda said. He spoke at the Asia-Pacific Economic Cooperation summit in Honolulu today.

On helping Europe:

“With Europe’s crisis, I would first like Europe to steadily implement the comprehensive strategy that it agreed upon. For now Europe should work hard, and that’s the first step to Europe regaining the market’s trust.”

On what’s at stake in the Europe crisis:

“If Europe demonstrates that it’s going to overcome this crisis as one, then we will do what we can to help because the economic and financial stability of Europe is in the world’s interest.”

On whether Japan buys a fixed amount of European Financial Stability Facility bonds each time they are issued:

“We haven’t decided on a fixed ratio. If Europe stands as one, then we’re prepared to cooperate.”

On the Trans Pacific Partnership and China:

“TPP is open to all APEC economies. The decision to participate is up each economy. We have decided to begin discussions to participate in the TPP negotiations, but with China, there are many options, including Japan-China-Korea, Asean+3, Asean+6, and FTAAP. We want to aggressively promote each option. I’d like to continue working closely with China and other APEC economies.”

On the reaction to Japan participating in TPP discussions:

“With TPP, I explained that our nation has decided to begin discussions with the relevant countries to join the negotiations. Several economies said that they welcomed” Japan’s decision.

To contact the reporter on this story: Aki Ito in Tokyo at aito16@bloomberg.net

To contact the editor responsible for this story: John Brinsley at jbrinsley@bloomberg.net

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