Experts criticized a set of proposals July 11 announced by the Liberal Democratic Party for cutting government-affiliated financial institutions because they lack meaningful principles on which such downsizing can be based.
"The plan carries little significance," said Atsushi Miyawaki, a professor of economics at Hokkaido University, "because the report fails to state the role of governmental financiers in this country in the 21st century."
Echoing Miyawaki's view, Susumu Takahashi, chief economist at the Japan Research Institute Ltd., said the ruling party should first explain to the public the principles of governing the streamlining program. "Without them, it would be impossible for people to understand what the LDP wants to do through the 'reform' efforts," he said.