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...Right now, Japan's gargantuan banking crisis has taken center stage. Prime Minister Junichiro Koizumi and the rest of the Diet squabble endlessly over the various iterations of bank proposals recommended by Financial Services Minister Heizo Takenaka, while the national media reports with increasing confidence that one or more of the the nation's four megabanks are in danger of imminent collapse. Last week, Takenaka gave the banks a deadline: they have four months to take convincing action aimed at solving their financial crisis or risk being nationalized...

Author: /time Magazine | Title: Going Nowhere Fast | 12/2/2002 | See Source »

...Only two weeks ago, Takenaka had convinced the world that it could expect a set of proposals with real heft. But he, like so many before him, got mired in the morass of inertia and self-interest that is Japanese politics. Receiving lukewarm support from his boss Prime Minister Junichiro Koizumi, Takenaka has buckled. At a press briefing last week, Takenaka called his plan 'a good start.' Who says the Japanese have no sense of irony...

Author: /time Magazine | Title: Twiddling Their Thumbs | 11/4/2002 | See Source »

Then came Kim's strange confessional meeting with Japan's Prime Minister Junichiro Koizumi in September. Although U.S. envoys by then had briefed Koizumi on the CIA discovery, it's unclear how hard he pressed Kim on the issue. The Korean leader one-upped his counterpart by apologizing for kidnapping 13 Japanese citizens decades ago to train North Korean spies. He perhaps hoped the startling act of contrition would open the way to more aid from Japan. Koizumi said last week he would keep working to normalize relations...

Author: /time Magazine | Title: Look Who's Got The Bomb | 10/28/2002 | See Source »

Japan's Prime Minister Junichiro Koizumi is used to making other politicians unhappy. But even he seemed shaken when his longtime supporter Mikio Aoki took the floor of the Diet last Tuesday and added his voice to the growing dissension over the Prime Minister's latest round of banking reform proposals. In a withering attack, he accused Koizumi's new finance chief Heizo Takenaka of being a loose cannon, an unelected and unaccountable radical operating outside the system. And he finished with a direct salvo against the man he used to defend, telling Koizumi, "What is lacking most is leadership...

Author: /time Magazine | Title: Last Stand | 10/28/2002 | See Source »

...wing extremists. Ito fled the scene but turned himself in to the police the following day. The news stunned lawmakers, many of whom were in the middle of a budget debate when the murder took place. "The use of violence to silence politicians is utterly unforgivable," said Prime Minister Junichiro Koizumi. "I am incredibly outraged." Police, however, caution that the motive for the murder remains unclear. As the outspoken head of a Democratic Party of Japan anti-corruption committee known as the "G-Man Squad," Ishii fashioned himself as Japan's Eliot Ness. Ironically, he may have been best known...

Author: /time Magazine | Title: Character Assassination | 10/28/2002 | See Source »

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