The government and the Liberal Democratic Party reached basic agreement with opposition parties Friday on key financial stabilization bills, clearing a major hurdle before Prime Minister Keizo Obuchi's upcoming trip to the United States.
Obuchi, who is set to meet with U.S. President Bill Clinton next Tuesday, held separate talks with the leaders of four opposition parties -- the Democratic Party of Japan, the Heiwa-Kaikaku parliamentary group, the Liberal Party and the Social Democratic Party -- in last-ditch efforts to strike a deal before his departure Sunday.
All of the four opposition parties except the Liberal Party said they have cleared major points of dispute with the government and the LDP over the financial bills. The Liberal Party chose to reserve its stance, pointing to some remaining differences over the handling of the ailing Long-Term Credit Bank of Japan.