Figures for 2017/Q1 are those of March. Sources: Ministry of Health, Labour and Welfare; Ministry of Internal Affairs and Communications.
This has most obviously occurred with the PIIGS group of countries in the Eurozone, pushing European authorities into the very uncomfortable positions of having to underwrite individual country balance sheets. BIS central bankers’ speeches  3  There is a possibility that this situation could worsen in 2011. So far, the risk spreads on sovereign bonds have stayed stubbornly high.