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Japan Willing to Financially Aid Greece

Japan is willing to purchase more bonds from the EFSF in order to share the burden of the Greek debt, said  Finance Minister Jun Azumi.
During a Press Conference in Tokyo, the Japan Minister said that if the Eurozone establishes an effective mechanism to stabilize the markets and save Greece from default, then Japan would most probably contribute in the overall effort.
The representative of the European Commissioner responsible for economic affairs, Olli Rehn, stressed out yesterday that the capital stock of EFSF is currently at $440 billion but this money cannot support countries such as Spain and Italy, which are also being threatened by default.
Japan has invested ca. 2,68 billion Euros in issuing EFSF bonds during the first semester of 2011 in order to support the economies of Island and Portugal.
After China, Japan is the second country with the biggest currency stock in the world. The country was also hit by recession after the disastrous earthquake and tsunami of March and after the European financial crisis has affected Japanese exports.

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