Days after the earthquake and tsunami in Japan, the world's third-largest economy is in shock. Will the country bounce back like it did after the quake in Kobe in 1995? What impact will it have on the markets and the global economy? Peter Westaway, Chief European Economist at Nomura International, discusses these issues with France 24's Tom Burges Watson.
The Bank of Japan decided at emergency talks on Monday to extend a funding programme introduced in December to preserve nascent signs of economic recovery that could be hampered by a strong yen.
The yen rose to its highest level in 15 years against the dollar on Tuesday, after Japan's government failed to announce decisive action to help the country's export-driven economy.
The day after the historic victory of the opposition Democratic Party of Japan in general elections, the yen hit a seven-week high against the dollar and the Nikkei stock index jumped to the highest intraday level of the year.
The iconic Japanese company Sony Corp. reported a 200-million-dollar operating loss for the fiscal third quarter to December because of weak sales of electronic goods and a stronger yen.
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