Press Conference by Kaoru Yosano, Minister of Finance and Minister for Financial Services and Economic and Fiscal Policy
March 10, 2009
[Opening Remarks by Minister Yosano]
The cabinet meeting proceeded based on the predetermined agenda. After the meeting, I met with the Prime Minister at his official residence and explained the contents of the discussions held at today’s meeting of the Council on Economic and Fiscal Policy.
[Questions and Answers]
Yesterday, stock prices posted a new closing low since the collapse of the bubble economy. There have been calls from the business circles for the implementation of stock price-supporting measures. Could you tell us about your views on the current stock prices and the need for stock price-supporting measures?
Stock price support has two meanings, one of which is supporting stock prices. The other is dealing with various secondary problems caused by stock price drops, such as an impact on banks and life insurance companies and a general credit crunch. The ruling parties are currently considering how to deal with stock price drops.
I would also like to remind you that the government is ready to resolutely tackle a general credit crunch — although I am not sure whether this is the right term — that may be caused by stock price drops.
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