Japan PM warns of Greece-like debt crisis

The Japanese PM is alluding to confidence; Confidence in the currency that denominates their debt. Since gold is rising in all global currencies, it suggests that confidence in those managing the existing fiat system is beginning to fray. Once confidence reaches critical mass, there is no stopping the deterioration.

Japan could face a financial mess like the one that has crippled Greece if it does not deal urgently with its swelling national debt, the new prime minister warned Friday.

"It is difficult to sustain a policy that relies too heavily on issuing debt. As we have seen with the financial confusion in the European community stemming from Greece, our finances could collapse if trust in national bonds is lost and growing national debt is left alone," he said.

Source: finance.yahoo.com