Japan's Liberal Democratic Party, which has governed almost without interruption for 46 years, has plunged into turmoil as grassroots supporters condemn its handling of the country's leadership crisis.
Ambiguous statements from the Prime Minister, Yoshiro Mori, on whether he will stay or go have done nothing to calm nerves on
the stock market.
The Nikkei Stock Average fell to a 16-year low – partly in reaction to a sharp overnight drop on Wall Street – and ended the day at 11,819, its lowest level since February 1985.
"The LDP is facing the most critical situation since its foundation," the party's secretary general, Makoto Koga said at its annual convention at the Budokan Stadium in Tokyo.
The apocalyptic tone was echoed by scores of local delegates who handed out leaflets demanding the resignation of Mr Mori, and reform of the party's leadership.
Mr Mori told the convention: "Extremely severe criticisms are being voiced. As head of the party, I offer my heartfelt apologies to the people of the nation, party members and our coalition partners. We should bring forward the party presidential race scheduled for this autumn. The exact timing and method... should be subject to further discussions."
Almost as a matter of course, the LDP party president becomes the Prime Minister and the Japanese media has interpreted the advancement of the presidential election as a clear sign that Mr Mori will quit. But yesterday he declined to spell out whether he would be a candidate in a leadership contest. He also avoided the issue of setting a date for the election.
Since he assumed office a year ago, Mr Mori has become a severe liability to the party. His remarks evoking the nationalism of Japan's wartime leaders have sent his public-approval ratings below 10 per cent, among the worst for a premier in the postwar era.
And he has been a frequent target for opposition parties, which twice in the past five months have tried and failed to oust him with a no-confidence motion in Parliament.
- INDEPENDENT
