ADB: Asian leaders fear Abenomics more than eurocrisis

Author: Gemma Varriale | Published: 29 May 2013

· Europe has topped Asian leaders’ concerns for several years. But their focus has recently shifted to an issue closer to home - the Bank of Japan’s quantitative easing programme;

· However, according to a senior ADB spokesperson, Europe’s fate will remain of central importance to the fast-growing Asian economies;

· With Europe accounting for 40% of Asia’s trade exports, Asian leaders fear that some of European sovereign debt may never be paid back;

· Deutsche Bank’s global head of regulatory policy said that uncertainty surrounding the regional outlook was prompting clients to put their money elsewhere;

· The Deutsche Bank head also queried whether the European banking union would be sufficient to decouple the link between banking and sovereign crises.

Despite Asia’s unprecedented economic growth in recent years, the region’s leaders remained acutely aware of the risks posed by Europe’s recession-plagued economies. But such concerns have now been usurped by...