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G7 to communicate quickly over Brexit: Japan

Citing an unnamed government official from a G7 country, Bloomberg News said the group would hold telephone talks later in the day.

Published: 24th June 2016 05:17 PM  |   Last Updated: 24th June 2016 08:04 PM   |  A+A-

Japan Financial Marke_Madh

Dealers look at monitors at the headquarters of Mitsubishi UFJ Trust and Banking Corporation in Tokyo. |AP

By AFP

TOKYO: Japan said Friday it would communicate with its G7 counterparts over Britain's decision to quit the European Union, as a report said the group would hold a conference call later Friday.

The club of rich nations -- which earlier warned that Brexit could have disastrous economic consequences -- has yet to issue a formal response to the shock vote that sent financial markets into a tailspin.

Japan's Finance Minister Taro Aso declined to say if the group would hold a call Friday, but told reporters that "naturally, we will do it (communicate) in various forms".

Aso added that Tokyo would work with Japan's central bank and G7 nations to help stabilise markets.

"Our prime minister ordered us to take necessary measures by cooperating with the Bank of Japan and talking closely with G7 nations," Aso told reporters.

Citing an unnamed government official from a G7 country, Bloomberg News said the group would hold telephone talks later in the day.

Last month, the G7 -- the United States, Germany, Japan, Britain, Italy, France and Canada -- held annual meetings where they warned against a Brexit.

"A UK exit from the EU would reverse the trend towards greater global trade and investment, and the jobs they create, and is a further serious risk to growth," they said in a declaration after talks in Japan largely focused on kickstarting the world economy.

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