• SHARE

Finance Minister Hiroshi Mitsuzuka expressed full confidence in the nation’s financial health Friday, saying that the crisis is over and implementation of the government’s stability measures will restore calm to the industry.

In his last regular press conference of the year, Mitsuzuka conveyed his belief that the financial crisis, which peaked in November with a string of failures including the collapse of the fourth largest brokerage, Yamaichi Securities Co., is basically over. “Ministry officials are currently working full-speed to prepare necessary legislation for the upcoming Diet session” to set up a legal framework for infusing up to 30 trillion yen in public assistance toward fully protecting deposits and helping to recapitalize banks up to March 2001.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW