Cablegate: Media Reaction Q G-7 Finance Ministerial - Tokyo

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P 150454Z SEP 06
FM AMEMBASSY TOKYO
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RUCNDT/USMISSION USUN NEW YORK 1948
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UNCLAS TOKYO 005322

SIPDIS

SIPDIS

STATE FOR I/RF, PA/PR/FPC/W, IIP/G/EA, EAP/PD, R/MR,
EAP/J, EAP/P, PM;
USTR FOR PUBLIC AFFAIRS OFFICE;
TREASURY FOR OASIA/IMI;
SECDEF FOR OASD/PA;
CP BUTLER OKINAWA FOR AREA FIELD OFFICE;
PACOM HONOLULU FOR PUBLIC DIPLOMACY ADVISOR

E.O. 12958: N/A
TAGS: OIIP KMDR KPAO JA
SUBJECT: MEDIA REACTION Q G-7 FINANCE MINISTERIAL - TOKYO

LEAD STORIES: Most Friday morning papers front-paged a
GOJ decision on Thursday to impose financial sanctions on
North Korea as early as September 19 by freezing the
Japanese bank accounts of organizations and individuals
suspected of involvement in the DPRK's WMD programs.

1. "G7 Finance Ministerial: Sense of Urgency Needed
Regarding Slowdown" The moderate Tokyo Shimbun
editorialized (9/15): "A meeting of G-7 finance ministers
and central bank governors starts Saturday in Singapore.
Amid an increase in risk factors, including a slowdown of
the US economy, vigilance is needed to prevent a global
economic slowdown. The world economy, which had been
humming along until recently, is beginning to show signs
of irregularities. In the financial markets, though the
rise in the euro is noticeable, no major abnormalities
have occurred.

2. "Complacency, however, would be dangerous, as there
are worrying signs in the US economy, which has served as
the locomotive for global growth. We hope that the G-7
finance ministers and central bank governors will
thoroughly discuss these risk factors.... Though the
price of oil recently appears to have eased off a bit,
the price remains at a high level. What effect will this
have on the world economy? The G-7 finance ministerial
needs to issue a statement expressing a continuing sense
of urgency."

SCHIEFFER

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