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(From Journal of Japanese Trade & Industry (JJTI))
Byline: Tani Sadafumi
The Japanese government had planned to cap insured refunds of all deposits at failed banks, starting in April 2003, but it basically abandoned this plan at the end of July. Government members such as Yanagisawa Hakuo, Minister for Financial Services*, stressed that the new plan actually signified a resolve to push forward with structural reform, but there is no doubt that it also signifies a change in policy. Prime Minister Koizumi Jun-ichiro's government made this policy shift when it was caught in a hard place between political demands and economic realities.
At the ...