Asia Bizz: Japan has decided that it will assist Europe to bailout from the ongoing economic crisis, specifically aimed towards Ireland. The Finance Minister of Japan, Mr. Yoshihiko Noda, has said that he will buy some 20% bonds which will be issued by the fund system, for bailing out Ireland. The bailout is worth billion of Euros, and it will be the first instalment which will release this month.
Euro is the common currency denomination used in Europe, and the European Financial Stability Facility is looking to sell out several billions of Euros worth bonds from many countries, which will be used to bailout Ireland. The funds have been estimated to be around €67.3 billion, which is a lot, but the management system will try their best to pull Ireland out of this crisis.
Mr. Noda has said that his country is interested to buy more than 20% of these bonds, which will eventually release the burden of Europe. This move will not only lend a helping hand for Ireland and Europe, but it will also build a stronger relationship with the European nations.
Source: JapanToday
