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Viewing cable 08TOKYO1629, TOKYO MEDIA REACTION - G8 FINANCIAL

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Reference ID Created Released Classification Origin
08TOKYO1629 2008-06-16 01:55 2011-08-25 00:00 UNCLASSIFIED Embassy Tokyo
VZCZCXRO9882
PP RUEHFK RUEHKSO RUEHNAG RUEHNH
DE RUEHKO #1629/01 1680155
ZNR UUUUU ZZH
P 160155Z JUN 08
FM AMEMBASSY TOKYO
TO RUEHC/SECSTATE WASHDC PRIORITY 5076
RUEKJCS/SECDEF WASHDC PRIORITY
RUCPDOC/USDOC WASHDC PRIORITY
RUEATRS/DEPT OF TREASURY WASHINGTON DC PRIORITY
RUYNAAC/COMNAVFORJAPAN YOKOSUKA JA PRIORITY
RHHMUNA/HQ USPACOM HONOLULU HI PRIORITY
RHHMHBA/COMPACFLT PEARL HARBOR HI//N541// PRIORITY
RHMFIUU/HQ PACAF HICKAM AFB HI//CC/PA// PRIORITY
RUHBANB/OKINAWA FLD OFC US FORCES JAPAN CP BUTLER JA PRIORITY
RHMFIUU/USFJ  PRIORITY
INFO RUEHFK/AMCONSUL FUKUOKA 8375
RUEHNH/AMCONSUL NAHA 0751
RUEHNAG/AMCONSUL NAGOYA 6643
RUEHKSO/AMCONSUL SAPPORO 8961
RUEHOK/AMCONSUL OSAKA KOBE 2082
RUEHBJ/AMEMBASSY BEIJING 3919
RUEHMO/AMEMBASSY MOSCOW 2360
RUEHUL/AMEMBASSY SEOUL 9916
RUCNDT/USMISSION USUN NEW YORK 0333
RHEHAAA/NSC WASHDC
UNCLAS SECTION 01 OF 02 TOKYO 001629 
 
SIPDIS 
 
STATE FOR I/RF, PA/PR/FPC/W, IIP/G/EA, EAP/PD, R/MR, 
EAP/J, EAP/P, PM; 
USTR FOR PUBLIC AFFAIRS OFFICE; 
TREASURY FOR OASIA/IMI; 
SECDEF FOR OASD/PA; 
CP BUTLER OKINAWA FOR AREA FIELD OFFICE; 
PACOM HONOLULU FOR PUBLIC DIPLOMACY ADVISOR 
 
E.O. 12958: N/A 
TAGS: OIIP KMDR KPAO JA
SUBJECT: TOKYO MEDIA REACTION - G8 FINANCIAL 
MINISTERIAL, JAPAN-DPRK RELATIONS, AND REFERENDUM ON EU 
TREATY IN IRELAND 
 
 
1. LEAD STORIES: All Monday morning papers led with the 
aftermath of Saturday's major earthquake in northern 
Japan. 
 
2. "Statements Alone Cannot Stop Inflation" The liberal 
Mainichi editorialized (6/16): "In a joint statement, 
G8 finance ministers pledged to take a concerted line 
in order to stabilize the global economy. However, 
mutual coordination via words alone will backfire by 
triggering market turmoil. U.S. monetary officials have 
repeatedly made statements warning against a weak 
dollar and inflation. But without taking action to 
follow through on such statements, they will end up 
deepening distrust among market players.... The U.S. is 
urged to keep in mind that a delay on its part in 
hiking interest rates would pose an even more serious 
challenge to the world economy." 
 
3. "Despite Differences, Closer Coordination Still 
Needed" The liberal Tokyo insisted in an editorial 
(6/15): "There appears to be policy disarray among G8 
members, with Japan looking at a cut in interest rates, 
while the U.S. remains neutral about its own rates, and 
the Europeans are exploring a rate hike. This could 
lead to a dangerous situation. The financial market 
could conclude that coordination among G8 members is 
not working if each member takes action independently 
in order to prioritize its own domestic economic 
situation." 
 
4."U.S. Must Not Hurriedly Delist North Korea" The 
conservative Sankei stated in an editorial (6/14): 
"Behind North Korea's change in attitude toward the 
abduction issue is apparently its hope that it can get 
the U.S. to move quickly to delist it as a state 
sponsor of terrorism. Pyongyang's release of an 
antiterrorism statement just ahead of the Japan-DPRK 
meeting was also done with this in mind.... The 
Japanese people will be displeased if it turns out the 
recent round of Japan-DPRK negotiations was aimed at 
courting U.S. attention. Given the lack of substance in 
North Korea's proposals, the U.S. is urged not to 
easily delist North Korea." 
 
5. "Identity with Nation-State or with Europe?" The 
liberal Mainichi wrote in an editorial (6/15): "The 
shock (regarding Ireland's rejection of the Lisbon 
Treaty) was palpable, as the nation is viewed by other 
members as one that has benefited from its membership 
in the EU. The other members should analyze and deal 
with the setback in the view that public skepticism 
about deeper EU integration is a problem common to all 
of them." 
 
6. "France, Germany Concerned about Stalemate in EU 
Integration" On Ireland's rejection of the Lisbon 
Treaty, the top-circulation, moderate Yomiuri wrote 
(6/15): "French President Sarkozy and German Chancellor 
Merkel are worried not just about a potential impasse 
over EU organizational reform but also about a halt in 
EU integration in the long run, which would make it 
very difficult for Europe to become a locus in the 
global political and economic worlds." 
 
TOKYO 00001629  002 OF 002 
 
 
 
SCHIEFFER