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Aso Cabinet E-mail Magazine No.4 (October 30, 2008)
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"Once in a century"
-- Message from the Prime Minister (Provisional Translation)


Once in a century

The world is currently in the midst of a so-called "once-in-a-century"
financial crisis.

Although Japan's financial system is stable compared to those of
the United States and Europe, the Japanese economy, too, has been
significantly affected, with domestic stock prices fluctuating wildly.

During my visit to Beijing last week, I had the opportunity to engage
in exchanges of frank opinions on the financial crisis with leaders of
major Asian and European nations. I became keenly aware of the high
expectations that nations have placed on Japan.

About a decade ago, Japan overcame a financial crisis.

The leaders of the world's 20 major countries will hold an emergency
summit next month to discuss responses to the financial crisis. I am
convinced that Japan must utilize its experience of overcoming financial
crisis and demonstrate leadership, for the stabilization of the world
economy.

Today, the Government will decide on a new economic policy package
-- Measures to Support the People's Lives, which puts the people first.

Every day, pessimistic opinions about the future of the economy are
expressed in the news media. If the people's lives were in fact to become
bleak, it really would send the economy downward.

The policy I will implement will be bold, so that people in different
circumstances who might come to feel pain can perceive its effects,
and so that the future can be bright.

Our responses will be tailored to people in households struggling to make
ends meet, to those worrying about unstable employment, to the mothers and
fathers working hard to raise children, and to people finding it difficult
to buy their homes.

It is imperative that micro-, small and medium-sized companies, which
provide 70 percent of all employment, remain vigorous. We will take all
possible measures to support their year-end financing, to keep them safe
from the stormy seas of international finance.

Without bright regions, Japan as a whole cannot be bright. The Government
will allocate one trillion yen to the regions, using revenue sources
earmarked for roads that will be reallocated to the revenues used for
general purposes.

We must gather together all our wisdom to overcome the "once-in-a-century"
crisis. Now, the power of politics is being put to the test.