Japanese Prime Minister set to resign

Japanese Prime Minister set to resign

POSTED: Thursday, August 11, 2011 - 8:25am

UPDATED: Thursday, August 11, 2011 - 8:26am

Japanese Prime Minister Naoto Kan says he will resign as soon as several key bills are enacted. Kan has called for the bills to be passed because he considers them vital for Japan's recovery and a condition for his resignation. The first bill, a second supplementary budget, has already passed the Diet. The two other bills are for issuing deficit covering bonds and for promoting the use of renewable energy.

Kan talked about resigning wednesday then again thursday at an Upper House budget committee meeting where the deficit covering bill was discussed. He said once the bills were enacted, the Democratic Party would call a presidential election. The deficit covering bond bill was approved by the committee wednesday and was approved by the Lower House. It is under negotiation for enactment by August 24th.

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