Japan Facing Greece-Style Debt Crisis

The Japanese government announced a new $50 billion emergency budget Thursday that will be used for disaster relief, Japan's bonds rose, pushing 10-year yields to a four-week low. Japan not now facing Greece-style debt crisis. Huge funds will be needed to rebuild after the March 11 earthquake and tsunami, which have left nearly 28,000 dead or missing and triggered a nuclear crisis, but Japan already has public debt already double the size of its $5 trillion economy, the worst among industrialised nations.

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