Japan intends to buy more than 20% of government bonds issued by euro area financial stability fund, joining way to China to assist the region in the fight against the debt crisis that has already forced the two countries to seek financial assistance from the IMF and the EU, reports Bloomberg referring to the Minister of Finance Japan Iosihiko Noda.
"There is a plan under which eurozone countries will jointly issue government bonds in January to raise funds to help Ireland - said Noda. - Japan as a leading nation to do their part to build confidence in this measure. We plan to purchase more than 20% of the bonds ". China has previously expressed support for Europe.
Last week, Vice Premier of the State Council Li Keqiang (Li Keqiang) expressed confidence in the financial markets of Spain and promised to purchase an additional share of stock of the country. With a shortage of cash you can always borrow cash bail . The European Financial Stability Facility (European Financial Stability Facility, EFSF) plans to issue bonds worth up to 16.5 billion euros this year and another 10.0 billion euros - in 2012. Foundation plans in 2011 to place three Eurobond volume from three to five billion euros each maturity of five to ten years.
In addition, the Department of Financial Services Commission plans in 2011 to accommodate four or five Eurobond three to five billion euros each promised to provide financial aid to debt-laden Ireland. In the first half of the year are expected to three issues.
These securities will be denominated exclusively in euros, the timing of their treatment can make five, seven and ten years. The so-called interim mechanism for financial stability, which includes a fund totaling 750 billion euros, was created in the spring of 2010 to counter the deterioration of the situation on the market of sovereign debt and the EU to provide financial assistance to Greece to settle debts and the normalization of the situation in the economy. The Foundation was formed by contributions from the EU and the International Monetary Fund.