As I will mention later, I am more optimistic about the outlook for Japan’s economy than in fiscal 2012, when the Bank revised downward its outlook for economic activity and prices several times because of the European debt problem and deceleration of the Chinese economy.
The episode coincided with the banking crisis in the other Nordic countries and is mentioned in Danmarks Nationalbank's Report and Accounts 1992: "Early in the summer, rumours arose that Unibank was facing difficulties.