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TOKYO - Japan on Tuesday warned French president-elect FrancoisHollande to keep the nation's fiscal discipline in place amidworries that the new leader will overspend in a bid to boost theeconomy. Sunday's victory for Socialist Hollande - and the huge losses forthe two main parties in Greece - came amid a backlash against theausterity measures put in place across Europe to tackle theregion's debt crisis. But Finance Minister Jun Azumi told a regular news conference inTokyo: "Our stance is unchanged. "We want (France) to do what has been decided so far, and I'd liketo tell them about that if there is the opportunity," he added,according to Dow Jones Newswires. "I don't know whether Mr Hollande will immediately act on what hehas said in heated debates during the election campaign. "But realistically, I think it is impossible (for European nations)to give up on fiscal-rebuilding efforts," the finance ministersaid, adding that he was "convinced (Hollande) will respect thismovement." Hollande ousted conservative Nicolas Sarkozy from the Elysee Palaceon a platform promising growth rather than further cuts, which hasworried many European leaders who fear it will lead to anotherregion-wide crisis. Azumi said Monday that France's new leader "fully understands" theneed to rebuild Europe's finances, despite his calls to review theEuropean Union's fiscal pact to include measures to spur growth.The treaty now stresses austerity efforts. "I want him to act based on understanding the schemes and thinkingthat we, the IMF, and the G7 have cultivated up to now," Azumisaid. Azumi also warned on Monday that the election results in France anddebt-strapped Greece could have a "destabilising" effect onmarkets. He added said he would respond "properly and appropriately" to anyspeculative-driven gains in the yen, which makes Japanese exportsless competitive, and reduces the value of their foreign income. Japan has previously intervened in currency markets to tame theyen's soaring value amid fears over its impact on the world'sthird-largest economy. "We must closely watch whether there are speculative movementstaking advantage of political factors," he told reporters Monday. Japanese Prime Minister Yoshihiko Noda congratulated Hollande afterhis victory during a brief telephone call and told him France was a"strategic partner" of Japan, according to a foreign ministryofficial. The e-commerce company in China offers quality products such as China Wooden Storage Boxes , PDQ Display, and more. For more , please visit Gift Packaging Boxes today!
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