|
|
Japan: ‘Unpopular’ Prime Minister Yasuo Fukuda resigns
Tue. September 02, 2008 04:16 am.- By Bonny Apunyu. -
(SomaliNet) Becoming the second Japanese leader to resign abruptly in less than a year, Unpopular Prime Minister Yasuo Fukuda resigned on Monday in an effort to break a political deadlock.
Media reports say Fukuda, 72, has been struggling to cope with a divided parliament where opposition parties control the upper house and can delay legislation, while the world's No 2 economy slips towards a recession.
"If we are to prioritise the people's livelihoods, there cannot be a political vacuum from political bargaining, or a lapse in policies. We need a new team to carry out policies," Fukuda said.
"I thought it would be better for someone else to do the job than me."
Taro Aso, an outspoken, right-leaning former foreign minister and secretary-general of the ruling Liberal Democratic Party (LDP), is the frontrunner to succeed Fukuda.
Speculation has been simmering that the unpopular Fukuda might be replaced by the LDP ahead of a general election that must be held by September next year.
The dollar rose above 108 yen and the euro back up toward 158 yen on the surprise news. "Markets don't like political uncertainty and this falls firmly into that camp. It doesn't help overall, even if he hasn't been particularly popular," said Jeremy Stretch, markets strategist at Rabobank in London.
Fukuda's resignation does not automatically mean an election.
The LDP's new leader must win the support of parliament's lower house. The bespectacled Fukuda, a moderate conservative who favours close ties with Japan's Asian neighbours, took office in last September after his predecessor, Shinzo Abe, suddenly resigned after just a year in office.-Agencies
News Category: World
Latest Headlines
|
News 
