Japan applauds the approval of a revised 700-billion-dollar bailout plan in the U.S. Senate and looks forward to the enactment of the bill at an early date to stabilize the global economy, said Deputy Chief Cabinet Secretary Jun Matsumoto Thursday.
At a press conference, Matsumoto said that the passage of the bill is a step towards the settlement of the worldwide problem.
Japan welcomes its adoption and hopes for its swift enactment, which will surely lead to the stabilization of the U.S. economy as well as that of the world, he said.
And Japan is willing to continue to closely cooperate with the United States and other countries to that end, Matsumoto added.
The U.S. upper house on Wednesday approved the bailout plan. Under the new bill, the federal government will be authorized to purchase the assets from banks and other financial institutions, which is expected to help free them to resume lending to businesses and consumers.
The new version approved by the Senate will raise federal deposit insurance limits to 250,000 dollars from 100,000 dollars per account.
Source:Xinhua
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