Excessive Pessimism on Euro Area Eases, Dai-ichi Says

Yasuyuki Watanabe, the manager of the investment-planning department at Dai-ichi Life Insurance Co., said pessimism about Europe’s debt crisis has eased.

Dai-ichi, based in Tokyo, is Japan’s second-biggest life insurer with 30.9 trillion yen ($381 billion) in assets. Watanabe made his comments in an e-mail, and his comments were translated from Japanese.

“Excessive pessimism has eased” because of measures including the Longer-Term Refinancing Operations by the European Central Bank, the European Financial Stability Facility and the European Stability Mechanism.

“We don’t expect confusion that’s deeper than what we saw late last year. We judge that Italy and Spain can restructure on their own.”

To contact the reporters on this story: Masaki Kondo in Singapore at mkondo3@bloomberg.net; Wes Goodman in Singapore at wgoodman@bloomberg.net.

To contact the editor responsible for this story: Rocky Swift at rswift5@bloomberg.net.

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