Japan launches economic crisis talks

TOKYO: Japans premier launched a week of crisis talks on reviving the worlds number two economy, which a government report warned remained "in a severe situation." Prime Minister Taro Aso convened a panel of experts to gather ideas for a new stimulus package that, according to media reports, may total about 20 trillion yen (200 billion dollars). Finance Minister Kaoru Yosano and 83 experts were set to take part in the talks, which will run until Saturday on themes such as the environment, social security and employment. The boost would come on top of two earlier stimulus packages worth a total of about 50 trillion yen, including a two-trillion-yen cash handout to the public and other non-spending measures, such as loan guarantees for companies.

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