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A Japanese Perspective on Brexit

Britain’s vote to leave the European Union may have long-term economic repercussions. Ueno Yasunari, a leading Japanese economist, discusses the outlook for the world economy.
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Timeline for June 2016

Prime Minister Abe Shinzō postpones the consumption tax hike, Tokyo Governor Masuzoe Yōichi resigns, and campaigning begins for the House of Councillors election. Look back at the main stories of June 2016.
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Greece Says No to Austerity

The euro, a symbol of European integration, is facing the greatest crisis since its launch in 1999. In a referendum held on July 5, a majority of Greeks voted against the austerity demanded by the European Union. The result was 61% against and 39% for, a far larger "no" vote than anticipated. This outcome signifies the Greek people’s dissatisfaction with the harsh austerity measures they have endu…
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Europe’s Elections and Japan’s Public FinancesMaruyama Yasuyuki

The emphatic rejection of austerity measures delivered by voters in the presidential election in France and the general election in Greece will have a complex influence on Japan, where government debt levels are more than 200% of gross domestic product and where moves had at long last begun to get the country’s public finances back in order. In Japan, the coalition government led by the Democra…
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Japan, the European Crisis, and Global GovernanceEndō Ken

Europe’s sovereign debt crisis set off by Greece’s fiscal woes, has become a global cause of concern. How should Japan view this crisis and what should it do in response?
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The Fiscal Crisis in Advanced Democracies and Issues for JapanKatō Izuru

The advanced democracies of Japan, Europe, and America are all facing fiscal crises due to swelling deficits. Among them, Japan seems to have the most dysfunctional political system. Economist Katō Izuru offers his recommendations for fiscal rehabilitation.
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A Year of Historical Turning Points?Shiraishi Takashi

This year has offered various opportunities to think about “path dependence”—or, to put it in plainer terms, about historical turning points. The first such opportunity was of course the March 11 Great East Japan Earthquake and the subsequent disaster at the Fukushima Daiichi Nuclear Power Station. In the face of a catastrophe of this order, the world of politics needed to change. In particular,…
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