Japan and Germany agree to closely monitor the markets and coordinate as necessary – #Japan #Germany #agree #closely #monitor #markets #coordinate
TOKYO, March 18 (Reuters) – Japan and Germany agreed on Saturday to closely coordinate financial jitters stemming from problems among Western banks while closely monitoring global markets and the economy, a Japanese finance ministry official told Reuters.
Agreement with Japanese Finance Minister Shunichi Suzuki to Tokyo for bilateral government consultations trip was achieved in a 45-minute meeting between German Finance Minister Christian Lindner.
Since the collapse of Silicon Valley Bank and Credit Suisse central bank 54 billion dollars globally after being forced to finance bank reserves have been shaken, raising questions about other weaknesses in the financial system.
The ministers were meeting when German Chancellor Olaf Scholz and Japanese Prime Minister Fumio Kishida began their first government consultations, involving multiple cabinet members from both countries, to discuss ways to ensure economic security.
According to a Japanese official, Suzuki told Lindner: “There has been risk aversion in the financial markets. We will follow the developments carefully and central bank and we will coordinate with authorities abroad.” “Japan’s financial system as a whole remains stable.”
Without making further official announcements, both sides agreed on the need to closely monitor financial developments and coordinate as necessary.
Japan Big after Germany this year BritainCanada, FranceItaly and USAHe became the chairman of the Group of Seven Industrial Powers.
Suzuki and Lindner to agree on and implement global digital taxation and the debt of developing countries 20They agreed to prioritize sanctions against Russia for its aggression against Ukraine and its support for Kiev, while trying to find a stable solution within the Group of Nations. .
They agreed on the need to strengthen supply chains as an element of economic security.
Reporting by Tetsushi Kajimoto; Edited by William Mallard
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2023-03-18 14:03:49
Source – reuters
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