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| China-Japan-Koreas |
| Japan's postal shake-up approved |
| 2005-10-15 |
| Japan's upper house has approved a bill to privatise the country's post office, in a key victory for Prime Minister Junichiro Koizumi. The legislation is the central plank in Mr Koizumi's plans for economic reform. Many in his own party had opposed the bill, but Mr Koizumi won a snap election and increased his majority, replacing opponents with supporters. Post office reform will create a private sector financial powerhouse with trillions of dollars in savings. The final hurdle had been the upper house of parliament. It was this house which voted down an earlier reform bill in August, prompting Mr Koizumi to call the election. On Friday, the bill passed by 134 votes to 100 and will now become law. "This was a miracle in the political world," Reuters news agency quoted a smiling Mr Koizumi as saying. Koizumi is masterful. He is not only bringing Japan out of its military shell, but is supporting the US in the WoT and overseeing some pretty big economic and social reforms. This is a decisive victory. |
| Posted by:Anonymoose |
| #1 It may surprise many Rantburgers, but the Japanese Postal Service is one of the biggest financial players in the country, with most citizens investing large chunks of their income in "postal savings accounts". |
| Posted by: Sheik Abu Bin Ali Al-Yahood 2005-10-15 21:15 |