15-Mar-2011 11:26 AM

Japan’s economy to recover and fiscal crisis is not 'imminent': Moody's

Japan’s economy will recover and a fiscal crisis is not “imminent” despite the significant impact of the earthquake and tsunami, according to Moody’s Investors Service senior VP Tom Byrne (Bloomberg, 14-Mar-2011). He however noted that Japan may “at some point” reach a fiscal “tipping point” if the market loses confidence in the soundness of government finances and demands a risk premium on government bonds.