Yamaoka rebuked for ‘inappropriate’ euro, China quotes

Kyodo

Chief Cabinet Secretary Osamu Fujimura on Friday sternly rebuked consumer affairs minister Kenji Yamaoka for his remarks about the possibility of the euro collapsing and China’s economic “bubble” bursting.

“We have little choice but to consider his remarks inappropriate as they could be misinterpreted,” Fujimura said.

Speaking to reporters earlier in the day, Yamaoka said, “I was speaking in general terms but I am ready to retract my words if they caused any misconception.

“I just wanted to say that politicians and government officials need to carry out their duties diligently and with a sense of urgency.”

At a New Year’s meeting of Cabinet Office officials, Yamaoka said: “Personally, I think the euro may collapse. . . . In such an event, the (economic) bubble in China might burst too.”