"Forget Greece, Japan is called the world's real economic time bomb." That's how bad Japan's economy is. Pretty dismal for the world's third largest economy.
Japan's economy has been suffering from two decades of deflation. Even though inflation and unemployment remain relatively low, 1.3% and 3.6% respectively, real growth has been sporadic and stagnant.
Although Japan's Prime Minister Shinzo Abe was elected with a promise of economic change, monetary easing, and structural reforms, consumers' confidence and spending has not improved.
Finally, Japan's ageing population is one of the most difficult challenges facing the nation. In 10 years time, almost 40% of the population will be comprised of the over 55 age group.