|
The
agreement came in a 45-minute meeting between Japanese Finance
Minister Shunichi Suzuki and German Finance Minister Christian
Lindner, visiting Tokyo for bilateral government consultations.
Banking stocks globally have been battered since Silicon Valley
Bank collapsed and Credit Suisse was forced to tap $54 billion
in central bank funding, raising questions about other
weaknesses in the financial system.
The ministers were meeting as German Chancellor Olaf Scholz and
Japanese Prime Minister Fumio Kishida kicked off their first
government consultation involving multiple cabinet members from
both countries, to discuss ways to secure economic security.
"Risk aversion has been seen in financial markets. We will
carefully watch developments and coordinate with the central
bank and overseas authorities," Suzuki told Lindner, according
to the Japanese official. "Japan's financial system remains
stable as a whole."
Both sides agreed on the need to closely monitor financial
developments and coordinate as needed, the official said,
without elaborating further.
Japan succeeded Germany this year as chair of the Group of Seven
industrial powers, a group that also includes Britain, Canada,
France, Italy and the U.S.
Suzuki and Lindner agreed to prioritise sanctions against Russia
over its invasion of Ukraine and support for Kyiv, while
striving to reach agreement on global digital taxation and
implement it, and steadily resolve developing countries' debt in
line a Group of 20 framework, the official said.
They agreed on the need to strengthen supply chains as an
element of economic security.
(Reporting by Tetsushi Kajimoto; Editing by William Mallard)
[© 2023 Thomson Reuters. All rights
reserved.]
This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
