The letter was signed by Michel Barnier, the EU commissioner for internal market and services, George Osborne, the UK chancellor of the exchequer, Ikko Nakatsuka, ministerof state for financial services in Japan and Pierre Moscovici, ministeroffinance in France.
Japan's prime minister is facing a rift with his financeminister over who to pick as the next Bank ofJapan governor, a division that epitomizes the difficulty of the selection process.
So do not expect Japan's MinisterofFinance to intervene--unless the yen strengthens beyond 84.8, the multiyear high set last November after the Dubai sovereign debt shock.