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Brexit Barriers 'Help No One', Says Japanese Group
The chairman of an association of Japanese dealers has issued a stark warning about the dangers of Brexit.
“We understand the difficulties lying ahead in the negotiations but strongly hope that both sides understand that fragmentation and barriers help no one when it comes to financial markets,” said Kazutoshi Inano, chairman and chief executive of the Japan Securities Dealers Association, which has about 500 members.
Inano said he hoped UK and European policymakers would provide a transition period to allow market participants to adapt to any legal or regulatory changes.
The comments came at a conference in London to discuss Japan’s financial markets. Professor Motoshige Itoh, a participant in the country’s economic stimulus programme, said Japan had succeeding in tackling its difficulties.
“Since 2012, amid the stagnant global economy, Japan has made progress in overcoming deflation and achieving a primary balance surplus under the economic policies called the ‘three arrows of Abenomics’ backed by long-term stable administration,” he said.
©2017 funds global asia
This article was originally published in Funds Global Asia.