Japan’s Finance Minister Shoichi Nakagawa said Tuesday he would resign. The declaration comes a day after he denied being drunk at a G7 (Group of Seven) meeting in Rome where he appeared incoherent and indistinct his speech.

Nakagawa denied that he was drunk when he addressed the Japanese press on Saturday. He instead blamed his awkward and at times unfathomable performance on an overdose of cold drug. In spite of his refutations, those who have witnesses footage of the press conference, repetitive all day on Japanese TV, agree he had the glassy eyes and covered with sweat complexion of a man who had take pleasure in a few glasses of Chianti too many courtesy of his Italian hosts. The 55 years old Nakagawa said reporters in Tokyo.

“It is true that I didn’t conduct myself properly, and I feel I must set the record straight,”

He apologized for his manner and he said to journalists,

“I have resigned. I decided that it would be better for the country if I quit.”

Mr Nakagawa’s leaving is seen as a major blow to Mr Aso’s government in an election year. The prime minister was already facing dropping support of him. Prime Minister Taro Aso had accepted his resignation. Kyodo news agency said Kaoru Yosano was expected to take on his portfolio.

Related Tags

http://www financesteer com/financial-news/japan-finance-minister-resigns htm

Related posts:

1. Japanese Economics on Threat
2. Norway Don’t Finance to Myanmar Supplier
3. Can the UAE Maintain its Financial System?