Obuchi gives first policy speech
New Prime Minister Keizo Obuchi delivers his policy speech in
an extraordinary session of the Diet (parliament) on Friday Aug. 7.
Obuchi launched what he calls his ''economic reconstruction'' cabinet
July 30, giving the Finance Ministry portfolio to former Prime
Minister Kiichi Miyazawa (seated). During the 30-minute speech,
however, the yen dropped against the U.S. dollar and stock prices
fell as it contained no additional economic stimulus measures.
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