Daniel Gros: Abe has departed and soon 'Abenomics' will follow him

The failures of the Japanese prime minister's economic policies have hard lessons for an aging Europe, says Daniel Gros

Shinzo Abe, Japan's longest-serving prime minister, has stepped down for health reasons, but the sluggish economy may have been a factor. Picture:AP Photo/Eugene Hoshiko, Pool

THE official reason for Shinzo Abe's departure as Japan’s longest-serving prime minister was personal health. His signature economic policy may be headed for a similar fate.

'Abenomics' was ushered in with great fanfare in 2013. The  Japanese government website has always featured three 'policy arrows', targeted at aggressive monetary policy, flexible fiscal policy, and growth strategy, including structural reform.