Japanese Prime Minister resigns.
With less than 20% approval, Naoto Kan leaves office amidst a severe economic crisis caused by the March 11 attacks and the rise of the yen.
247 with international agencies - Japanese Prime Minister Naoto Kan announced his resignation on Thursday, as he had previously promised. The election of his successor will begin next Monday, and the winner will be announced as prime minister on Tuesday. Japan is facing one of its worst economic crises following the earthquake and tsunami that devastated the country's northeast coast and caused a nuclear leak. The rising yen has also worried investors.
Kan's popularity plummeted – to less than 20% approval – after the March 11 catastrophe, and he warned that he would resign as soon as the necessary laws to begin the country's reconstruction were approved. One of these laws, concerning the study of new renewable energy sources to reduce dependence on nuclear power, was approved this Tuesday by the Lower House of Parliament. The other concerns raising the debt ceiling.
Over the past six years, Japan has changed its prime minister five times. The leading candidate to succeed Kan is former Foreign Minister Seij Maehara, 49.