Japan's Akira Amari Says Greek Crisis Won't Severely Hurt Global Economy

Japanese Economics Minister Akira Amari said on Tuesday (June 30) the Greek debt crisis won't inflict severe damage to the global economy as long as policymakers respond calmly to the situation. "We must remain calm, what we must avoid by all means is a contagion driven by a bias sentiment. If policymakers respond calmly, I don't think the Greek debt crisis will have severe impact on the global economy," Amari told a news conference after a regular cabinet meeting. "Instead of holding a referendum, Greece and the European Union should work positively towards debt restructuring and also discuss laying out a roadmap on fiscal reform that can reassure others that they have a workable solution," he added. While Tokyo stock prices plunged on Monday (June 29), they are holding up Tuesday morning in a sign markets are gradually digesting the situation, he added.