Obuchi prepared to compromise

Obuchi prepared to compromise

JAPAN'S Prime Minister, Keizo Obuchi (left), yesterday offered to compromise with opposition parties to ensure the swift passage through parliament of urgently needed legislation to revive the Japanese economy. Parliament begins debating the bills today, but their passage could be stalled if opposition parties unite to present alternative bills.

"We need to pass the legislation as quickly as possible by reaching some sort of compromise with opposition parties," Mr Obuchi said at a press conference in Nagasaki, where he was attending events to mark the 53rd anniversary of the atomic bombing there. The LDP's economic revival bills call for setting up a "bridge bank" which the government would use to take over failed banks.