Obuchi gives first policy speech

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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