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11 October 2001 13:22  O'Neill sees "tangible" action from Japan on banks


NEW YORK (AFX-ASIA) - Treasury Secretary Paul O'Neill said he expects to see some "tangible" action to deal with the problems in Japan's banking system. In remarks made after a speech to the National Foreign Trade Council, O'Neill said: "I think we are going to see some tangible actions in Japan to deal with their banking system and overvalued assets, for which steps need to be taken." Referring to the Sept 11 terrorist attacks, O'Neill said: "I worry we have some risk of talking ourselves into difficult times when there is reason to be optimistic."
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