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Japanâ€™s finance minister to quit after appearing to be drunk

17 February 2009 09:27 (UTC +04:00)

Bakuâ€“ APA-Economics. Japanâ€™s finance minister said Tuesday he would quit after triggering a political storm by appearing to be drunk at a Group of Seven meeting on the global economic crisis, AFP reported.
Shoichi Nakagawa, a close ally of unpopular Prime Minister Taro Aso, was incoherent and slurred his speech at a news conference on Saturday after the G7 talks in Rome, prompting calls for his sacking.
He later said he had sipped some wine with lunch but blamed jet lag and cold medicine for what appeared to be drunken behaviour.
Nakagawa said he would step down after key budget bills clear parliament, expected in the coming weeks, forcing Aso to find a new finance minister for Asiaâ€™s biggest economy in the midst of a worsening recession.
"I want to apologise once again as I caused tremendous bother to people," Nakagawa told reporters.
He said he would voluntarily check into hospital to rest after being diagnosed with a cold and fatigue.
"Iâ€™ll do my best to fulfill my duties for my remaining days. I hope the Japanese economy will recover as early as possible," he said.
Nakagawa, 55, has made no secret about his fondness for drinking, telling reporters on Monday: "I think I can hold quite a bit" of alcohol.
His decision to step down sent ripples through financial markets as the Nikkei stock index slid to its lowest level in more than three months.
The ruling Liberal Democratic Party has been in power for almost all of the past half century but its grip on power has weakened and Japan has had three premiers since late 2006. Aso must call a general election by September.