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2008年10月 9日 (木)

株価急落救済対策

(Oct. 9, 2008) The Yomiuri Shimbun

Extra measures needed to prop up economy

「補正」衆院通過 株急落の対策をためらうな(109日付・読売社説)

The great wave of the global stock market meltdown slammed into the Tokyo markets again Wednesday. The key Nikkei Stock Average plunged nearly 1,000 points, and the U.S. dollar briefly dove below 100 yen.

 世界同時株安の大波が東京市場を直撃し、株価が1000円近く急落、円相場も一時、1ドル=100円を突破した。

The Japanese economy is finding itself on increasingly shaky ground. The government should accelerate drawing up additional measures to prop up and revive the economy.

 日本経済を取り巻く状況は、深刻さを増している。政府は、景気下支えのための追加対策の策定を急ぐべきだ。

The House of Representatives on Wednesday passed a supplementary budget for fiscal 2008. The extra budget, which is worth about 1.81 trillion yen, includes an economic package that centers on the establishment of a new credit guarantee system for small and midsize companies, and a subsidy for farmers, fishermen and forestry workers whose businesses have been severely affected by high oil prices.

 今年度の補正予算案が衆院を通過した。総額1兆8080億円の予算案は、中小企業向け信用保証制度や、原油高騰に伴う農林水産業者への支援などが柱だ。

These two policies are based on comprehensive economic measures the government drew up before the U.S.-triggered financial crisis escalated into turmoil on a global scale.

 いずれも、米国発の金融危機が本格化する前に策定された政府の総合経済対策に基づいている。

The situation now, however, is alarming. Although the United States passed a 700 billion dollars bailout package for the troubled financial industry, stocks there are in free fall, causing markets around the world to slide.

 だが、現状は容易ならざる事態だ。米国では金融安定化法が成立したものの、株価が下げ止まらず、世界の市場に波及している。

On Wednesday, the 225-issue Nikkei index dropped well below the 10,000 mark to 9,203.32, marking its lowest close since June 30, 2003.

 8日の東京株式市場は1万円の大台を大きく割り込み、5年3か月ぶりの安値で取引を終えた。

===

Bankruptcies on rise

More than 1,000 firms went bankrupt in September, according to data released Wednesday by a private credit research agency. This was the fourth straight month in which at least 1,000 companies went belly-up. Total debts left by these failed companies were the second-largest in postwar Japan. The deterioration in the real economy is pushing stock prices even lower.

 この日発表された9月の企業倒産件数は、4か月連続で1000件を超え、負債総額が戦後2番目の大きさだった。実体経済の悪化が株価を押し下げた。

Given these circumstances, the supplementary budget, of course, must be passed through the Diet quickly. However, the sheer size of the problem demands that a second move--and possibly further measures--also should be implemented.

 こうした現状を見れば、補正予算案の早期成立を図らねばならないのは当然だが、さらに二の矢、三の矢が欠かせまい。

In a rare move, the Democratic Party of Japan approved the supplementary budget in a vote at the lower house's Budget Committee. DPJ Secretary General Yukio Hatoyama had previously criticized the budget, saying, "Such a budget will never help the economy recover."

 補正予算案の採決では、民主党が賛成に回った。異例のことだ。鳩山幹事長は当初、「こんな予算では決して景気回復にはならない」と批判していた。

The DPJ apparently made a political judgment in which the main opposition believes it will be better served by cooperating with the ruling parties in passing the supplementary budget in the hope of setting the stage for an early dissolution of the lower house. The DPJ's change of tune apparently was aimed at forestalling public criticism that would have erupted had the party opposed the measures intended to boost the economy.

 衆院を早期に解散させるには、補正予算案成立に協力した方がいいとの政局的判断があるようだ。「景気対策に反対した」という批判をかわす狙いもあろう。

===

Antiterrorism bill on agenda

The DPJ also will likely agree to vote on a bill to revise the new Antiterrorism Law for extending the Maritime Self-Defense Force's refueling mission in the Indian Ocean.

 民主党は、インド洋での海上自衛隊の給油活動を継続するための新テロ対策特別措置法改正案の早期採決にも応じる方針だ。

The bill is expected to pass the lower house, which is controlled by the ruling parties, and then be rejected in the opposition-controlled House of Councillors. DPJ officials reportedly said the party will not try to drag out deliberations on the bill if the ruling parties put it to a second vote that can be enacted with their two-thirds majority. This also is part of the DPJ's strategy aimed at bringing about an early dissolution of the lower house.

 改正案は衆院で可決後、参院で否決される。与党が衆院で3分の2以上の多数で再可決、成立させるなら、民主党は審議の引き延ばしはしないという。やはり早期解散を目指す戦略の一環だろう。

Continuing the MSDF's refueling mission is the absolute minimum responsibility Japan must fulfill to show the international community that the nation will not shirk from the fight against terrorism. The DPJ's decision not to thwart the enactment of the bill serves the national interest.

 海自の給油活動の継続は、日本が「テロとの戦い」から離脱しないための最低限の国際責務だ。民主党が改正案成立を阻止しないことは、日本の国益にかなう。

However, the public struggles to understand why the DPJ is putting priority on early lower house dissolution and subsequent general election. Some cynics might describe it as self-serving.

 ただ、早期解散・総選挙のためならば、という民主党の政局優先の姿勢は、国民に分かりづらく、「ご都合主義」とも映る。

The lower house's Special Committee on Antiterrorism is scheduled to discuss the bill and the DPJ's alternative bill. The ruling and opposition parties should faithfully discuss the nation's commitment in the fight against terrorism before the public.

 衆院テロ防止特別委員会では、新テロ特措法改正案と同時に、民主党の対案も審議される予定だ。与野党は、国民の前で、日本の「テロとの戦い」のあり方をきちんと論じるべきだろう。


(From The Yomiuri Shimbun, Oct. 9, 2008)

20081090155  読売新聞)

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