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Drive to Break up the Post Office/  /September 21, 2005

Dig this—Koizumi, PM of Japan was just reelected on a platform that hinged on postal service reform:

Mr Koizumi framed the ballot as a referendum on his economic reforms and his drive to break up the post office.

State-owned Japan Post runs a savings bank with more than $3 trillion in assets, making it possibly the largest financial institution in the world.

It runs nearly 25,000 post offices and employs some 400,000 workers.

Under Mr Koizumi's plan, the postal system would be fully private by 2017.

The process was slated to start in 2007, but political wrangling has forced the government to delay the launch for six months, and possibly into 2008.

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