Friday, August 31, 2012

Japan in fiscal crisis

According to the Telegraph:
Japan plans to cut state spending, could run out of money in a month - Telegraph

"Japan's government is planning to suspend some state spending as it could run out of cash by October, with a deficit financing bill blocked by opposition parties trying to force Prime Minister Yoshihiko Noda into an early election."

This would seem to be the first time that parliamentary disputes there have reached the point of holding up fiscal activity by the government.

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