After all the bickering, temper tantrums, threats of legal suits and raised hopes for solutions to Japan’s banking and economic troubles, minister for economy and financial services Heizo Takenaka has finally released plans to revitalize banking and the economy.
Despite Takenaka’s brave attempts to get tough and include strong measures in the latest recovery package, he failed, producing what many are calling a weak, watered-down compromise. It seems that for now the old establishment and conservative Japanese bankers have got their way yet again.
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