Japan calls on UK, Germany to restore confidence

EPA/FRANCK ROBICHON

Ruling Liberal Democratic Party leader and Prime Minister Shinzo Abe speaks attends a party leaders' debate at Japan National Press Club in Tokyo, Japan, 21 June 2016.

Japan calls on UK, Germany to restore confidence


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Japanese Prime Minister Shinzo Abe has called on the British and German leaders to work together to restore confidence in global financial markets after Britain’s shock decision in a referendum last week to leave the European Union.

As reported by the Reuters news agency, the vote prompted a sharp selloff of global stocks and the British pound and sent the Japanese yen, viewed as a safe haven, soaring. The stronger yen will hamper Abe‘s efforts to revive Japan’s economy.

In a statement on June 30, the Japanese government said Abe had held separate telephone conversations with British Prime Minister David Cameron and German Chancellor Angela Merkel.

“Prime Minister Abe asked that Britain and the EU work together and send a clear message that would remove market concerns and strengthen predictability in a speedy manner,” the statement said.

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