Japan has an opinion about the eurozone crisis, but Joseph, Anglu and Karmenu l-Budgie Smuggler do not

Published: November 12, 2011 at 1:57pm

The Press Association reports this morning:

Japan ‘not immune to euro crisis’

The chief of the International Monetary Fund (IMF) has said Italy’s financial reform is key to reducing the impact of the eurozone crisis on the rest of the world, including Japan.

Christine Lagarde said Italy must promptly restore political stability and implement financial reforms to improve the ongoing eurozone crisis and offset its global impact.

After meeting with top Japanese financial and banking officials in Tokyo, Ms Lagarde expressed concerns about the consequences of the eurozone, particularly on Asia.

She said that all countries are interconnected and that Japan is no more immune than other nations.

Europe has bailed out Greece, Portugal and Ireland. Italy is now under pressure to control its dangerous debt and restore credible political leadership.

20 Comments Comment

  1. Neil Dent says:

    ROFL, OMG, PMSL. Il-Guy, that paragon of of prudence, honesty and transparency, has spoken.


    I now have a strong feeling that the top-band tax reduction WILL be announced on Monday.

    I feel this because of (not IN SPITE of) Il-Guy’s words today, after the government was harshly attacked in parliament and in the media as recently as this week, by none other than Il-Guy’s party colleagues, for NOT honouring this particular electoral promise.

    • silvio says:

      I expect a bombshell on Monday.

      Something makes me think that Tonio Fenech will announce that the salary increase given to the ministers will be put on hold until the financial situation permits it.

  2. Min Weber says:

    Because, Daphne, it’s Gonzi’s fault, since he actually foresaw it and did nothing about it.

    But, believe you me, they have a serious, technical plan they’re keeping under wraps for the moment, and when the moment comes they’ll give us the details.

    They have a fantastic plan which will solve our economic woes and might even be emulated by other Eurozone partners. Remember, l-Aqwa fl-Ewropa.

    So, there you are, it’s all nice and easy: connecting people, adds life, I’m lovin’ it, probably the best beer in the world, have a break, have a … , … truly asia, what the label doesn’t tell you a sip will, etc etc …

    It’s all Edward Bernay’s fault – you know Freud’s nephew.

    • H.P. Baxxter says:

      Excuse the scurrilous analogy, but this “fantastic plan” is like claiming you have a thirteen-inch uncut wotsit but refusing to show it until wedding night, by which time it’ll be too late for the disappointed bride.

      To quote Alfred Sant back in the 1998 electoral campaign: “Where’s the beef?”

      • Harry Purdie says:

        Buried under the ‘heap of shit’.

      • silvio says:

        I doubt if there are still any future brides who accept to be left in a state of suspense until the wedding night.

        You, know Baxxter, times have changed since our youth, at least since mine.

        You know that song?

        “They want it all and they want it now”.

      • H.P. Baxxter says:

        Not so for 47% of the electorate, who are quite happy to be kept in the dark until the fatal hour.

    • Likki says:

      Semplici hafna. Cara daqs il-kristall!

  3. David says:

    So what is Japan’s opinion on the eurozone crisis? What is the opinion of the Maltese government, if there is such an opinion?

    This is the critical opinion of The Telegraph on the euro crisis http://www.telegraph.co.uk/comment/telegraph-view/8884296/Democracy-is-being-sacrificed-in-Europe.html

  4. Karl Flores says:

    If Muscat was concerned about the political situation in Malta shouldn’t he have uncovered his magic bullets for the benefit of the Maltese population?

    If not, isn’t it only that he’s saying so because of the thirst for power?

  5. Jozef says:

    Wonder whether Joseph approves, this time, of Italy’s decision to raise the pensionable age, slash government spending including the removal of entire tiers of provincial authority, introduce comprehensive legislation to combat tax evasion, raise vat, go for privatisation of electricity and water effectively removing subsidies, (notwithstanding the recent referendum).

    Other measures being considered are;
    The obligatory transfer mechanism of state employees wherever needed, to combat patronage and vote swapping by local politicians on their home turf.
    The introduction of a one off fee on second homes and capital abroad, this by introducing a stringent means testing technique, including the monitoring of where people spend their holidays and what cars they drive. (Italy has more luxury cars sold annually than people who declare as income the equivalent amount).
    The eradication of social services abuse.
    The liberalisation of professional chambers including pharmacies, notaries, medical doctors and lawyers and removal of their minimum fees.
    The sale of unused state property.

    And finally, perhaps the greatest breakthrough, the removal of companies’ obligatory employment of employees, until today counterbalanced by employing those made redundant elsewhere in the same sector, stiffling competition and creating cartels.

    Fiat’s Marchionne has been accused of being socially irresponsible simply for refusing to subscribe to the idea that even if a union doesn’t have representation in its factories, it should still have a say in the conditions of employment contracted with the unions represented. This has resulted in a stalemate in investment and zero growth.

    Berlusconi had been accused of being arrogant and indecisive at the same time, something he lamented himself.

  6. Take Me On Trust says:

    I think you should read this. It’s funny and accurate:


  7. Stanley J A Clews says:

    Just like Baldrick in The Black Adder “they have a plan” but at least Baldrick does say what his plans are.

  8. kev says:

    X’naqa in-depth analysis, eh – daqs il-maltastar gwappi…

    • Harry Purdie says:

      Kevvy, quit pounding sand. Crawl out of that ‘heap of shit’, there’s a skip awaiting.

    • La Redoute says:

      You’re a fine one to mock, Kev. First you vote Labour, then you vote against EU membership, then you vote Labour again and lump us with this lot, then you scoot off to Brussels with your fresh new EU passport.

      What are you doing here, anyway? Didn’t you say you’re a 24/7 activist?

  9. Village says:

    Is the world overborrowed?

    Many countries are it seems judging by their % of debt to GDP which is much higher than the economically accedpted benchmark of 60%


  10. maryanne says:

    Does this person believe what he says?

    Jeffrey Pullicino Orlando
    Our country is going to experience difficult times in the coming months. Our people are expecting their representatives to chart the best way forward. Let us stop wasting our time and energy on petty squabbles. There are a number of vital issues which require our collective dedication as members of Parliament.

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