Banks Losing control, Team effort to stave off

World Economic Crash or to Please Chinese

Master??

Japan's Debt-to-GDP ratio should be cut: panel

Bloomberg June 4, 2009

The government should reduce its public debt to gross domestic product ratio "in a stable manner" and start eliminating its budget deficits to sustain fiscal health, a Finance Ministry panel said Wednesday.
The government has "no choice but to postpone" its goal of balancing its budget by fiscal 2011 because the recession is reducing tax revenue, a fiscal policy panel said in a statement released Wednesday. It didn't provide any recommendations for what the debt ratio should be lowered to. Prime Minister Taro Aso has pledged ¥25 trillion to revive the economy, swelling a public debt burden that's already the largest in the industrialized world.
Finance Minister Kaoru Yosano said last month that the government won't be able to post a primary surplus in two years and is considering a new target.

Bernanke warns on deficit Posted

by Gwen Robinson on Jun 04 05:16.

Ben Bernanke urged Congress on Wednesday to act to bring down long-term budget deficits, or else face a future debt trap, reports the FT. The Fed chairman said that recent sharp increases in bond yields – from below 3% to 3.76% last week for 10-year Treasuries – reflect “concern about large federal deficits” as well as new optimism about the economy and other factors. Reuters meanwhile reports that the Obama administration plans to unveil on June 17 its sweeping plan to overhaul financial regulation.
This entry was posted by Gwen Robinson on Thursday, June 4th, 2009 at 5:16 and is filed under Capital markets, People. Tagged with ben bernanke.

UPDATE

Japan's new fiscal target to be halving deficit ratio by FY 2013+
Jun 4 01:15 PM US/Eastern

TOKYO, June 5 (AP) - (Kyodo)—Japan's new key fiscal target will likely be halving the ratio of its primary balance deficit to gross domestic product by the end of fiscal 2013, according to a draft of the government's upcoming fiscal guideline.
The draft, a copy of which was obtained Thursday by Kyodo News, states that the government will then aim to realize the surplus ratio by around the end of 2019.
Concerning the ratio of Japan's outstanding public debt to GDP, the draft says the government will try to stop the ratio from expanding by around 2015 and reduce it in a stable manner afterward.