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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Japan PM launches economic crisis talks AFP - Tuesday, March 17 TOKYO (AFP) - - Japan's embattled premier on Monday launched a week of crisis talks on reviving the world's number two economy, which a government report warned remained "in a severe situation." ADVERTISEMENT Prime Minister Taro Aso convened a panel of experts to gather ideas for a new stimulus package that, according to media reports, may total about 20 trillion yen (200 billion dollars). Aso, struggling to reverse a slump in his popularity ahead of elections later this year, last week announced plans to put together a third stimulus package to revive the economy, which is now headed into its worst post-war recession. Finance Minister Kaoru Yosano and 83 experts were set to take part in the talks, which will run until Saturday on themes such as the environment, social security and employment. "We have to take unusual action to cope with abnormal situations," Aso told the opening of the meeting, according to Jiji Press. "We would like to listen to various opinions in order to overcome this crisis." The boost would come on top of two earlier stimulus packages worth a total of about 50 trillion yen, including a two-trillion-yen cash handout to the public and other non-spending measures, such as loan guarantees for companies. The latest package is likely to include fast-tracking express railway construction, earthquake-proofing for school buildings, environmental measures and social welfare programmes, such as care for children and the elderly, reports said. Yosano has expressed hope that Aso would be able to announce details of the latest package in time for a Group of 20 summit of world leaders on the crisis in London on April 2. The talks started as the Cabinet Office in its latest monthly report said Japan's economy was still "worsening rapidly" and "in a severe situation" -- the same overall economic assessment as in the previous month. It was the first time in six months the government left its overall economic assessment unchanged rather than downgrading it. The March report said corporate profits, exports and industrial output were all "decreasing very substantially," the employment situation was "getting worse rapidly" and private consumption was "decreasing modestly." Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy TOPWRAP 4-Japan issues bleak report, banks provide hopeReuters - 2 hours 3 minutes ago Dollar pares losses vs euro after Fed manufacturing dataReuters - Tuesday, March 17 Japan PM launches economic crisis talksAFP - Tuesday, March 17 China's CITIC Securities teams with US brokerageAFP - Tuesday, March 17 Related Articles: Business GE shares back above $10Reuters - 1 hour 12 minutes ago US STOCKS-Bank optimism powers Dow and S&P 500 but tech offReuters - 1 hour 21 minutes ago Feds to go after Bernard and Ruth Madoff assetsReuters - 1 hour 25 minutes ago Swaraj Mazda board to mull rights issue March 19Reuters - 1 hour 42 minutes ago Agrium takes CF Industries offer to shareholdersAP - 1 hour 46 minutes ago Enlarge Photo Japan PM launches economic crisis talks Related Photos Slideshow Full Photo Coverage: Business & Economy Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Arrest warrant issued for Lindsay Lohan Twin boys for Charlie Sheen and wife Bailed-out AIG plans bonuses worth millions: report For sale: nagging wife, very high maintenance World Bank warns of "very dangerous" year ahead View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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