The Remnant Online

News => Signs of the Times => Topic started by: Wendy on March 08, 2001, 03:21:00 PM

Title: Japan's Finance Minister Warns That Japan's Finances May Be Close to Collapse
Post by: Wendy on March 08, 2001, 03:21:00 PM

In a parlimentary meeting Japan's finance minister Kiichi Miyazawa remarked that Japan's financial state was abnormal and close to relatively close to collapse. He then went on to say, "We have to create a healthy economy instead of just trying to sound positive with words."

Many Japanese feel a sense of frustration with their government and the lack of real action to resolve financial problems. Standard & Poor's US rating agency has downgraded Japan's credit worthiness because of the governments lack of progress in creating genuine financial reform.

The Japanese government is planning on releasing a new economic package which they believe will help it's tumbling stock market and bolster consumer confidence.

Currently Japan is one of the largest holders of US debt.

To read more... [Link expired, sorry]

[This message has been edited by Wendy (edited 08-12-2001).]