bond down graid. with the key index down by 4% at one point on sunday afternoon. the markets in ka tar also ended lower. >>> holding an emergency immediating on sunday. in japan, the strong yen is crippling export related industries. on thursday japan intervened in the foreign exchange markets to stop the yen's rise. but investors continue to view the yen as a safe haven as the situation in the u.s. and europe isn't getting any better. now, there's still not a solution to the greek debt crisis. the contagion is causing concern and has rippled to italy, spain, and other nations. the g 7 talks are taking places monday morning. their goal will be to send a message to the global markets and the g7 nations with committed to working together on this situation. all eyes are on their joint statement. as we wait for the finance ministers of the group of seven nations before markets open in asia, we go over to emily wang at the stock exchange. good morning. >> reporter: good morning. we'reabout an hour away better stock markets here in tokyo open. investors here in tokyo wi

committee's supposed to come out with their recommendations that the ratings agency will not down graid simple reason that the creditworthiness has been called into question by the process that's taken place. many people -- and i don't think they will actually downgrade in the short term. however, the issue is now on the table. the negative warning has been put out there. >> right. but mark zandy this morning who works for moody's analytics, said essentially this is a larger deal in whole than they were anticipating. right? because it is a $3 trillion deal. >> almost $3 trillion. >> if you look in the long term. >> assuming part two gets off the ground. >> if you look in the long term and he said that is good and he thought that might possibly avert a downgrade. but again, it's a long way from here to there because we do have to see what this congressional panel comes up with. we have to see what congress does with it. and we have to see what kind of cuts they get. >> that's the point! and remember, this debt downgrade wasn't predicated purely on the potential of a default on tuesday or