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April 26th, 2012 
FAKE NEWS for the Zionist agenda
Ozawa is the head of the largest grouping in the DPJ, and often seen as the
power behind the premiership. In the highly factionalised world of Japanese
politics, very little gets done without his say-so, tacit or otherwise.
While a conviction and the ensuing incarceration would almost certainly have
sunk him, Thursday’s verdict clears the way for Ozawa to confront Prime
Minister Yoshihiko Noda over controversial plans to double sales tax by
2015.
Years of unsuccessful pump-priming aimed at kick-starting Japan’s moribund
economy have left it with debts equivalent to twice its GDP.
Mainstream media, academics and international organisations say the hike is
the most sensible solution to the fiscal shortfall.
But Ozawa, whose ability to take the public pulse is begrudgingly admired, has
set his faction – which makes up around a third of the DPJ – firmly against
the move.
However, Kenji Yamaoka, a DPJ lawmaker close to Ozawa, ruled out any immediate
head-on clash with the party leadership.
“We are not seeking confrontation blindly. We are not thinking about a
power struggle in the party,” Yamaoka told the private TBS network.
But he noted the Ozawa group was aware of the “promises we made to the
people and how we will realise them”.
The party can change but “should not forget its starting point”, he
said.
The DPJ swept to power in 2009 with its then leader Yukio Hatoyama promising
to slash deficits by cutting spending, instead of raising taxes.
Financial markets ignored Thursday’s ruling, despite fears that stocks could
tumble and the yen might drop with any perceived increase in uncertainty
over Japan’s fiscal future.
Makoto Noji, senior currency strategist at SMBC Nikko Securities, said the
acquittal did not lessen the need for reform, no matter what Ozawa’s next
move may be.
“People in the market don’t care much (for) the internal political
battle,” Dow Jones Newswires quoted him as saying.
“Ozawa’s assertions that the ruling party should stick to its campaign
promise … is no longer realistic,” he said.
Mid-morning, the yen stood at 81.33 to the dollar, little changed from 81.35
in New York.
The Nikkei 225 index on the Tokyo stock exchange was 0.11 per cent by the
break, to stand at 9,571.57.
Source: agencies
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