RE: Japan

["Forstater, Mathew" <ForstaterM@xxxxxxxx>]

See Downgrading Japan, C-FEPS Policy Note 02/01

"It is no secret that the Japanese economy remains moribund, facing its
third recession in a decade and with rising unemployment, price
deflation, and persistently stagnant growth. And in spite of near-zero
interest rates, large fiscal deficits, and a series of economic reforms,
the prospects for recovery remain dim. However, anyone who understands
the nature of sovereign debt knows that none of these factors should
play any role in assessment of default risk on local currency
denominated sovereign debt of any nation with a floating exchange rate."

http://www.cfeps.org/pubs/pn/pn0201/pn0201.html


Ian wrote:

[The Guardian]
Japan furious at credit downgrade