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Article: Daily Mail, London, Alex Brummer Column.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- September 5, 2002
CopyrightCOPYRIGHT 2002 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Alex Brummer, Daily Mail, London Knight Ridder/Tribune Business News
Sep. 5--For years now we have been told that the key to rebuilding confidence in Japan is cleaning up a corrupt banking system, loaded down with bad debts. It was partly on this reform platform that extrovert Prime Minister Junichiro Koizumi was elected.
It is not surprising then that when one of the world's leading credit rating agencies, Moody's, warns that the banking system is in too weak a state to be reformed, financial markets went into down-spin. In particular Moody's fears that the government's plans to remove its guarantee from current and savings account deposits ...