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Japan Finance Minister under fire for drunken behavior at G-7 press conference February 17, 2009

Posted by chandrapong007 in Economics, International.
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TOKYO — Finance Minister Shoichi Nakagawa came under fire Monday for what appeared to be drunken behavior at a press conference after a two-day meeting of the Group of Seven economic powers in Rome through Saturday.

According to Kawamura, Nakagawa, 55, apologized for causing anxiety but denied being under the influence of alcohol during the news conference despite having had some drinks, saying he had taken too much cold medicine.

ABC News ran a story online titled “Asleep at the Wheel: Japanese FM Nods Off During G-7 Talks,” in which they jibed that if the contracting economy and pursuant massive job losses at Japan’s biggest car manufacturers weren’t enough to keep him awake, there was always Italian favorite espresso.

Granted, the jet lag from a 15-hour flight isn’t easy to overcome, but when your nation’s economy is predicted to contract by 2.5% this year, per the IMF, and its biggest automakers like Toyota and Nissan are slashing jobs by the tens of thousands, that should be enough to keep you awake.

Nakagawa stumbled along in the interview: “The G-7 meetings…which were officially held today… started last night….there was something like a joint declaration. I heard America’s proposals…umm…and G-20 policies for moving forward…”

Nakagawa also cut in to a question aimed at Masaaki Shirakawa, the governor of the Bank of Japan, who was also in attendance. Nakagawa then misquoted the central bank’s interest rate, currently at 0.1%. “It’s going up from 0 to 0.25%? Well it’s still extremely low.” Click here for more detail

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1. News about Finance and related topics » Drunken Minister - February 17, 2009

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