In the council’s survey, we ask about the “purpose of holding financial assets.” The reply chosen most often had long been “preparation for illness and unexpected emergency.” But in 2013, this changed for the first time in its 60-year history to “funds for life during my retirement period.” This is symbolic for Japan, which has a well-developed public pension system.
Jean-Claude Trichet: Press briefing on the ECB Financial Stability Review June 2005 Opening remarks by Mr Jean-Claude Trichet, President of the European Central Bank, at the Press briefing on the ECB Financial Stability Review - June 2005, Frankfurt am Main, 31 May 2005.