European leaders have taken too long to address the eurozone sovereign debt crisis, the Asian Development Bank chief said recently, calling for swift action to prevent the global economy from being dragged down significantly.
Haruhiko Kuroda, president of the Manila-based regional lender, also said in a recent interview that the Bank of Japan should ease monetary policy more aggressively to overcome chronic deflation in the country and stem the yen's sharp appreciation against other major currencies.
As for Europe, Kuroda, a former vice finance minister for international affairs, warned that the eurozone crisis has had a negative impact on China and other economies in Asia.