英訳版を発行するのだったら和文の全文を翻訳してほしいなって感じました。
で、今日は和文、英文の順序に変更しました。
和文を省略すると全体の意味が薄れると感じたからです。
タイムリーに英語版を出版するには、相当の苦労が要求されます。
がんばってください。
スラチャイ
(Mainichi Japan) March 3, 2012
Editorial: Lessons learned 1 year after March 2011 disasters
社説：震災１年／１爪痕と再出発 私たちは何を学んだか
海岸線が迫った１５メートルほどの高台に上がると、そこからは広々とした農地が望めた。福島県相馬、南相馬両市にまたがる八沢浦干拓地だ。
東日本大震災の大津波はここでも猛威をふるった。平地の集落を押し流しただけではない。緊急避難場所に指定されていたこの高台にまで到達、退避中の住民３０人余の命を奪い、干拓地の鎮守として大事にされていた山田神社も社殿ごと流失した。
そんな破壊の傷痕を少しでも癒やそうという被災地支援の試みが２月下旬にあった。全国でも珍しい宮大工を養成する熊本県立球磨工業高校が山田神社の仮社殿を寄贈したのだ。昨年この地でボランティア活動した熊本県の宮司さんが仲介した。
◇地域、世代超えた絆
高さ２メートルのミニ社殿だが、氏子１８９戸の総代長を務める但野幸一さん（５９）は「農業を復興させようという意欲が出てきた」と感謝を伝え、社殿設置作業に訪れた専攻科１年の平識（へしき）有希乃さん（１９）は「津波で家が流され、土台だけ残されているのを見て、心が苦しくなりました。みなさんに元気になってほしい。神社が、住民の心の支えになるとうれしい」とエールを交換した。
南相馬から海岸線を北上して約１００キロの宮城県石巻市の牡鹿半島。入り江ごとにあるカキ養殖の集落の一つ、小網倉浜で漁師の阿部亮一さん（５１）に出会った。
あの日はちょうど出漁中で、沖へ出て津波から逃れた。
Ryoichi Abe, 51, a fisherman from Ishinomaki, Miyagi Prefecture, was operating off the Ojika Peninsula when a massive tsunami generated by the Great East Japan Earthquake hit his neighborhood on March 11, 2011.
だが、２日後に浜に戻り惨禍に衝撃を受けた。５０世帯、１２０人の集落で１６人が亡くなり、漁船も漁具もごっそりやられていた。
Two days after the tsunami, he returned to his home port and was shocked by the devastation wrought by the disaster. Sixteen of the 120 residents in his neighborhood died. Many of his fellow fishermen lost their fishing boats and equipment.
やる気を失っていた阿部さんたちに刺激を与えたのが、都会から来たボランティアだった。網やロープでがんじがらめになっていた漁具のかたまりを忍耐強く一つ一つほぐして使えるものを取り出してくれた。半信半疑だった阿部さんたちもいつの間にか浜に出て共同作業をしていた。夏にはカキの稚苗をホタテのカラに植え付け海につるすところまでいった。
It was volunteers from urban areas who encouraged Abe and other fishermen who had lost enthusiasm about fishing to resume their business. The volunteers carefully unraveled ropes and nets that had become tangled in fishing devices, and recovered usable equipment. Abe and other fishermen joined the volunteers in their work. In the summer, the fishermen were able to resume oyster farming.
「ここまできたのもボランティアのおかげ。すごい力だっちゃ。これは忘れねえ」
"We got to this point thanks to the volunteers. They have incredible power. I'll never forget what they did for us," Abe says.
早ければ今年秋にも最初の収穫を迎えることができる、という。
He says he and his fellow fishermen will be able to ship the oysters in autumn this year if things go smoothly.
被災した地域を歩いてみると、あちこちでこういったエピソードと出合うことができる。何とか復興に向けて前に進もうとする被災者と、少しでも役に立ちたい、と支援の手を差し伸べる側と、地域と世代を超えた絆の世界が今なお広がっている。災害の爪痕は残るものの、再出発の動きもまた始まりつつあるのだ。
Close bonds between disaster survivors who are trying hard to move toward recovery and those who are lending a helping hand can be observed throughout disaster-ravaged areas.
３・１１から１年。私たちは何を失い、何を学んだのか。これを機に考えてみたい。
We would like to take this opportunity as we approach the first anniversary of the Great East Japan Earthquake and tsunami to think about what we have lost -- and learned -- from the disasters.
失ったものは、あまりにも大きかった。約２万人の尊い人命と、数十万人のかけがえのない財産と生活、生産現場や雇用も奪われた。福島の原発被災地域では、ふるさとに住み続ける自由さえ失われている。
The losses are enormous: the lives of some 20,000 people, the assets and the peace of hundreds of thousands of people and numerous jobs. Residents of areas heavily affected by the ongoing crisis at the tsunami-hit Fukushima No. 1 Nuclear Power Plant have also been deprived of the freedom to live in their hometowns.
得たものはあったのか。逆境に負けずたくましく生活を再建させていく日本人の強さを世界に再認識させた。人の痛みを自ら引き受けようとする「絆」や連帯意識の強さが改めてクローズアップされた。南相馬や牡鹿半島で私たちが見てきたものもその一コマであった。
Yet amid such hardships, Japanese people have shown to the world that they have a strong will to restore their livelihoods. Close bonds and solidarity between victims and those who have shown willingness to share their pain have shone through the disaster.
◇政治の解決力強化を
では、何を学んだのか。ここでは二つのことを取り上げてみよう。
We would like to cite two things we have learned from the March 2011 quake, tsunami and ensuing nuclear crisis.
一つは、政治の重要性である。これはこの１年間政治がうまく機能していなかったことの逆説的総括である。今振り返っても３・１１後の日本政治は混迷を極めた。
One of them is the importance of politics. The government's response to the disasters has demonstrated that politics has not functioned properly and has been in chaos since March 11, 2011.
いくつもの対策本部は設置されたが、政治家が責任を持って決断し官僚がその専門的能力をフルに出し切る、という本来の意味での政治主導を実現するには至らなかった。
Even though the government set up several task forces to handle disaster countermeasures, its system of political leadership -- having politicians being responsible for decisions on policy while bureaucrats put their expertise to work to implement these measures -- has failed to function as far as the government's response to the disasters is concerned.
与野党が一致協力して短期集中的に問題解決を図る、という政治のダイナミズムが発揮されることもなかった。与党内の足並みの乱れが政局の混乱を加速させた。 このため、政治にしか解決できない問題の処理が軒並み遅れた。The ruling and opposition parties have also failed to cooperate closely to solve problems with speed and focus. On the contrary, a conflict within the ruling bloc has contributed to confusion in the political situation, and delayed solutions to problems that require political-level decisions.
４兆円の第１次補正予算が成立したのが５月２日。復興期間、規模、財源、特区など復興の基本的方向性を定めた「復興基本方針」策定は地震から４カ月半後の７月２９日までずれこんだ。
The 4 trillion yen initial supplementary budget for fiscal 2011 -- designed to finance disaster recovery efforts -- did not become law until May 2, 2011. Furthermore, the government's compilation of the principles for disaster recovery, which provide direction during the recovery period and cover the scale and length of recovery measures, the financial resources required and the designation of special restoration zones, did not come until July 29 -- 4 1/2 months after the disasters.
帝都復興院が関東大震災後４週間で設置されたのに比べ、復興庁の発足は発生１１カ月後の２月１０日を待たなければならなかった。
The government finally set up the Reconstruction Agency on Feb. 10 -- 11 months after the Great East Japan Earthquake. This is in stark contrast to the establishment of a similar body only four weeks after the 1923 Great Kanto Earthquake that devastated Tokyo and its environs.
政治の問題解決能力を強化すること。これは、これから起こりうる災害に対し私たちが自分を守るためにも重要だし、３・１１以外の日本が抱えるさまざまな懸案事項を前進させるためにも必要不可欠である。
Enhancing political ability to solve problems is important as a means to protect ourselves from future disasters and indispensable when the government tackles other outstanding issues.
二つ目に、原発・エネルギー政策の根源的見直しの必然性である。私たちは、原発の安全神話にあまりにも安直にのっかってきた。原発依存をどう解消していくか。その穴を代替エネルギーでどう埋めていくのか。いわゆる核のゴミ問題をどう解決するのか。いずれも難しい課題だが、日本がこれらの解決先進国になれれば、世界に対して貢献できる。
Our second lesson is the inevitability of a fundamental review of Japan's energy policy -- including nuclear power. We were overconfident of the safety of nuclear power plants. The ongoing crisis at the Fukushima No. 1 Nuclear Power Plant has raised such questions as how to decrease Japan's reliance on nuclear power plants, how to secure substitute energy sources and how to solve problems involving radioactive waste. Even though these are extremely difficult questions, Japan can make an important contribution to global society by solving them and setting an example through reduced reliance on nuclear energy.
学んだことを将来にいかしたい。そのために私たちはこの「震災１年」シリーズで３・１１をいくつかのテーマに切り分け、提言する。
We would like to make good use of the lessons learned from the disasters in the future. To that end, we would like to make specific proposals in this series, "One year after March 11, 2011."
毎日新聞 2012年3月3日 2時30分
2012/03/05
2012/03/04
米朝核合意 ウラン濃縮停止を見極めたい
The Yomiuri Shimbun (Mar. 3, 2012)
Suspension of uranium enrichment by N. Korea must be confirmed
米朝核合意 ウラン濃縮停止を見極めたい（3月2日付・読売社説）
Will the latest agreement really bring about a suspension of North Korea's nuclear weapons development program? The important thing is to see that country steadily carry out actions that were agreed upon.
北朝鮮の核開発に歯止めをかけることにつながるのか。重要なのは、合意した措置を確実に実行することである。
The United States and North Korea have announced they agreed during last week's bilateral talks that North Korea will temporarily halt its nuclear program, including uranium enrichment, while the United States will extend 240,000 tons of food assistance to North Korea.
米国と北朝鮮が、先週、北京で行った協議について、北朝鮮がウラン濃縮活動などを一時停止する一方、米国は２４万トンの食糧支援を実施することで合意した、と発表した。
It took about a week until Wednesday's announcement because it is believed to have been necessary to check the contents of the agreement and coordinate among countries concerned.
発表まで約１週間たったのは、合意内容の点検や関係国との調整が必要だったためと見られる。
===
Limited, but important, progress
According to the U.S. government, North Korea will stop nuclear and related activities in Yongbyon, including nuclear tests, uranium enrichment and the launching of long-range missiles. North Korea also agreed to accept verification and confirmation by the International Atomic Energy Agency of the halt of its nuclear activities.
米政府によると、北朝鮮が停止するのは、長距離ミサイル発射、核実験、ウラン濃縮活動を含む寧辺での核活動だ。北朝鮮は、国際原子力機関（ＩＡＥＡ）による核活動停止の検証、確認を受け入れることも同意した。
Three years ago North Korea ejected IAEA inspectors from Yongbyon and carried out a second nuclear test. Declaring it would use all the plutonium it possesses for weapons and start uranium enrichment, it has been continuing its nuclear program.
北朝鮮は３年前、ＩＡＥＡ要員を寧辺から強制退去させ、２度目の核実験を強行した。保有するプルトニウム全量を「兵器化」し、ウラン濃縮活動を開始する、と宣言して核開発を続けている。
If the situation is left untouched, it will only be a matter of time until North Korea deploys nuclear missiles. Considering the danger, the agreement this time is "important, if limited, progress," as the U.S. government put it.
このままでは、北朝鮮の核ミサイル配備も時間の問題だ。その危険を考えれば、今回の合意は、米政府が言う通り「限定的ながらも重要な進展」には違いない。
The problem is whether North Korea will surely halt its uranium enrichment program. Past events have shown the country has scrapped international agreements a number of times. The United States must seriously discuss with North Korea the procedures for implementing the agreement so as not to allow loopholes for the reclusive country.
問題は、北朝鮮がウラン濃縮を確実に停止するのかどうかだ。北朝鮮は、幾度も合意を反古(ほご)にしてきた経緯がある。合意履行の手順について、米国は、抜け道を許さぬよう厳しく詰めるべきだ。
Food assistance from the United States will be mainly nutritional assistance to infants and small children as well as pregnant women, including dietary supplements. The U.S. government has left open the prospect of additional assistance depending on necessity.
米国からの食糧支援は乳幼児や妊婦向けの栄養補助食品で、必要に応じて追加支援する可能性もあるという。
We think North Korea will perform concrete steps such as suspending uranium enrichment and accepting the IAEA's verification team, while closely watching the progress of the food assistance.
北朝鮮はこの食糧支援の状況を見定めながら、ウラン濃縮停止や検証受け入れなどの具体的措置を講じるのではないか。
===
When will actual halt take place?
According to the original plan, the United States will provide 20,000 tons of food per month over a 12-month period. Will North Korea actually take steps toward stopping uranium enrichment when the first shipment of food aid arrives or after a considerable amount arrives? It is important to clarify this point before actual shipments begin.
米国の当初の計画では、２万トンずつ１年かけて提供する予定だ。北朝鮮がウラン濃縮停止に動くのは、最初の食糧の到着時か、それとも相当量が到着した時なのか。明確にしておく必要がある。
Even if the agreement is implemented as stated, it is still dangerous to heave a premature sigh of relief.
合意が履行されたとしても、安心するのは危険だ。
Concerning suspension of uranium enrichment, the agreement targets only the Yongbyon facility that was previously opened to U.S. nuclear experts. Basically, the agreement is merely a partial "suspension" of North Korea's entire nuclear development activities. Therefore, the possibility remains that North Korea will continue uranium enrichment at secret nuclear facilities elsewhere.
ウラン濃縮の停止について、合意は、北朝鮮が米国の核専門家に公開した寧辺の施設だけを対象にした。合意は、あくまで核活動の部分的な「停止」に過ぎず、秘密の核施設で北朝鮮がウラン濃縮を続ける可能性は十分に残る。
Since the death of longtime leader Kim Jong Il, North Korea has been hurriedly trying to consolidate the regime that succeeded him, with his young son Kim Jong Un at the center of the country's administration.
金正日総書記の死去後、北朝鮮は若い正恩氏を中心とする後継体制固めを急いでいる。
The more vulnerable the regime feels, the more it will stick to its nuclear program and missiles, dubbed the "heritage of revolution," and will never give up them.
その体制が脆弱(ぜいじゃく)であればあるほど、「革命の遺産」である核とミサイルにしがみつき、手放すはずはない。
The fundamental threat of North Korea has not been lessened. We must stay alert.
北朝鮮の根本的な脅威は減じておらず、警戒は怠れない。
(From The Yomiuri Shimbun, March 2, 2012)
（2012年3月2日01時16分 読売新聞）
Suspension of uranium enrichment by N. Korea must be confirmed
米朝核合意 ウラン濃縮停止を見極めたい（3月2日付・読売社説）
Will the latest agreement really bring about a suspension of North Korea's nuclear weapons development program? The important thing is to see that country steadily carry out actions that were agreed upon.
北朝鮮の核開発に歯止めをかけることにつながるのか。重要なのは、合意した措置を確実に実行することである。
The United States and North Korea have announced they agreed during last week's bilateral talks that North Korea will temporarily halt its nuclear program, including uranium enrichment, while the United States will extend 240,000 tons of food assistance to North Korea.
米国と北朝鮮が、先週、北京で行った協議について、北朝鮮がウラン濃縮活動などを一時停止する一方、米国は２４万トンの食糧支援を実施することで合意した、と発表した。
It took about a week until Wednesday's announcement because it is believed to have been necessary to check the contents of the agreement and coordinate among countries concerned.
発表まで約１週間たったのは、合意内容の点検や関係国との調整が必要だったためと見られる。
===
Limited, but important, progress
According to the U.S. government, North Korea will stop nuclear and related activities in Yongbyon, including nuclear tests, uranium enrichment and the launching of long-range missiles. North Korea also agreed to accept verification and confirmation by the International Atomic Energy Agency of the halt of its nuclear activities.
米政府によると、北朝鮮が停止するのは、長距離ミサイル発射、核実験、ウラン濃縮活動を含む寧辺での核活動だ。北朝鮮は、国際原子力機関（ＩＡＥＡ）による核活動停止の検証、確認を受け入れることも同意した。
Three years ago North Korea ejected IAEA inspectors from Yongbyon and carried out a second nuclear test. Declaring it would use all the plutonium it possesses for weapons and start uranium enrichment, it has been continuing its nuclear program.
北朝鮮は３年前、ＩＡＥＡ要員を寧辺から強制退去させ、２度目の核実験を強行した。保有するプルトニウム全量を「兵器化」し、ウラン濃縮活動を開始する、と宣言して核開発を続けている。
If the situation is left untouched, it will only be a matter of time until North Korea deploys nuclear missiles. Considering the danger, the agreement this time is "important, if limited, progress," as the U.S. government put it.
このままでは、北朝鮮の核ミサイル配備も時間の問題だ。その危険を考えれば、今回の合意は、米政府が言う通り「限定的ながらも重要な進展」には違いない。
The problem is whether North Korea will surely halt its uranium enrichment program. Past events have shown the country has scrapped international agreements a number of times. The United States must seriously discuss with North Korea the procedures for implementing the agreement so as not to allow loopholes for the reclusive country.
問題は、北朝鮮がウラン濃縮を確実に停止するのかどうかだ。北朝鮮は、幾度も合意を反古(ほご)にしてきた経緯がある。合意履行の手順について、米国は、抜け道を許さぬよう厳しく詰めるべきだ。
Food assistance from the United States will be mainly nutritional assistance to infants and small children as well as pregnant women, including dietary supplements. The U.S. government has left open the prospect of additional assistance depending on necessity.
米国からの食糧支援は乳幼児や妊婦向けの栄養補助食品で、必要に応じて追加支援する可能性もあるという。
We think North Korea will perform concrete steps such as suspending uranium enrichment and accepting the IAEA's verification team, while closely watching the progress of the food assistance.
北朝鮮はこの食糧支援の状況を見定めながら、ウラン濃縮停止や検証受け入れなどの具体的措置を講じるのではないか。
===
When will actual halt take place?
According to the original plan, the United States will provide 20,000 tons of food per month over a 12-month period. Will North Korea actually take steps toward stopping uranium enrichment when the first shipment of food aid arrives or after a considerable amount arrives? It is important to clarify this point before actual shipments begin.
米国の当初の計画では、２万トンずつ１年かけて提供する予定だ。北朝鮮がウラン濃縮停止に動くのは、最初の食糧の到着時か、それとも相当量が到着した時なのか。明確にしておく必要がある。
Even if the agreement is implemented as stated, it is still dangerous to heave a premature sigh of relief.
合意が履行されたとしても、安心するのは危険だ。
Concerning suspension of uranium enrichment, the agreement targets only the Yongbyon facility that was previously opened to U.S. nuclear experts. Basically, the agreement is merely a partial "suspension" of North Korea's entire nuclear development activities. Therefore, the possibility remains that North Korea will continue uranium enrichment at secret nuclear facilities elsewhere.
ウラン濃縮の停止について、合意は、北朝鮮が米国の核専門家に公開した寧辺の施設だけを対象にした。合意は、あくまで核活動の部分的な「停止」に過ぎず、秘密の核施設で北朝鮮がウラン濃縮を続ける可能性は十分に残る。
Since the death of longtime leader Kim Jong Il, North Korea has been hurriedly trying to consolidate the regime that succeeded him, with his young son Kim Jong Un at the center of the country's administration.
金正日総書記の死去後、北朝鮮は若い正恩氏を中心とする後継体制固めを急いでいる。
The more vulnerable the regime feels, the more it will stick to its nuclear program and missiles, dubbed the "heritage of revolution," and will never give up them.
その体制が脆弱(ぜいじゃく)であればあるほど、「革命の遺産」である核とミサイルにしがみつき、手放すはずはない。
The fundamental threat of North Korea has not been lessened. We must stay alert.
北朝鮮の根本的な脅威は減じておらず、警戒は怠れない。
(From The Yomiuri Shimbun, March 2, 2012)
（2012年3月2日01時16分 読売新聞）
2012/03/03
エルピーダ倒産―安易な救済への警鐘だ
--The Asahi Shimbun, Feb. 29
EDITORIAL: Elpida’s bankruptcy is a warning against easy government bailouts
エルピーダ倒産―安易な救済への警鐘だ
Elpida Memory Inc., the world’s No. 3 maker of dynamic random-access memory (DRAM) chips used to store data in personal computers and other devices, has filed for bankruptcy protection under the Corporate Rehabilitation Law.
パソコンなどでデータを記憶する半導体ＤＲＡＭで世界３位のエルピーダメモリが、会社更生法の適用を申請して倒産した。
Elpida’s collapse under the weight of 448 billion yen ($5.6 billion) in liabilities represents the largest-ever corporate bankruptcy in Japan’s manufacturing sector.
負債総額は４４８０億円。製造業では過去最大だ。
Elpida is Japan’s sole remaining maker of DRAMs, created by integrating the DRAM manufacturing operations of NEC Corp., Hitachi Ltd. and Mitsubishi Electric Corp.
ＮＥＣと日立製作所、三菱電機の事業を集約した日本で唯一のＤＲＡＭメーカーである。
Elpida received an injection of 30 billion yen in capital from the government-owned Development Bank of Japan in 2009 following the global economic downturn triggered by the fall 2008 collapse of U.S. investment bank Lehman Brothers. The unusual bailout committed the government to absorb losses incurred by the company.
リーマン・ショック後の０９年には日本政策投資銀行から３００億円の出資を仰ぎ、損失は政府が補填（ほてん）する異例の公的支援を受けていた。
Elpida’s downfall was caused by a confluence of factors, including the heavy blow delivered to its bottom line by the yen’s sharp appreciation and a slump in global personal computer sales due partly to the sovereign debt crisis in Europe.
急激な円高による採算悪化、欧州危機を一因とするパソコンの世界的な販売不振など、様々な要因が重なった。
The fundamental cause of Elpida’s predicament, however, concerned structural challenges posed by competition from South Korean and Taiwanese rivals, led by Samsung Electronics Co., which have expanded their shares in the global DRAM market in recent years.
しかし、根本には、サムスン電子をはじめとする韓国、台湾勢に市場を奪われる構造的な苦境がある。
In the 1980s, Japanese makers controlled 70 percent of the world DRAM market.
ＤＲＡＭでは、８０年代に日本メーカーが世界市場の７割を占めた。
But the competitive landscape changed dramatically while Japanese chip makers were hamstrung by the export restrictions imposed on them as a result of a semiconductor trade dispute between Japan and the United States.
しかし、日米半導体摩擦に伴う輸出規制で日本勢が動きを封じられているうちに、様相は一変した。
Attaining leadership in the DRAM market requires continuing massive investments in technology and equipment.
ＤＲＡＭ事業で主導権を握るには、巨額の投資を続けることが不可欠だ。
South Korea’s Samsung has various other businesses that support its great financial strength. Elpida, which is dedicated to the DRAM business, apparently fought against hopeless odds when it challenged Samsung’s market leadership.
サムスンはほかにも様々な事業を持ち、財務基盤が厚い。エルピーダがＤＲＡＭ専業で対抗しようとしたことに無理があった。
Of the 30 billion yen of taxpayer money injected into Elpida, up to 28 billion yen may prove to be unrecoverable, according to the Ministry of Economy, Trade and Industry.
経済産業省によると、公的資金のうち最大で２８０億円が戻ってこない恐れがある。
For all its importance, the DRAM industry, unlike the financial and energy sectors, is not part of the social infrastructure that supports people’s everyday lives.
ＤＲＡＭ事業が重要だとはいえ、金融やエネルギーなど、日々の生活を支える社会インフラではない。
A direct injection of public funds into an ordinary private-sector company is regarded as unacceptable, except in very special cases.
一般の事業会社に公的資金を直接投入することは、よほどのことがない限り禁じ手だ。
The industry ministry should engage in serious soul-searching about its misguided and failed efforts to save Elpida, which also set the stage for an insider trading scandal that led to the indictment of a senior official at the ministry.
エルピーダ再建にかかわるインサイダー取引事件で幹部職員が起訴されたことを含め、経産省は猛省すべきだ。
What is troubling is the fact that there are other cases of potentially excessive government involvement in private-sector business affairs.
心配なのは、「官」が出過ぎているのでは、と思える事例がほかにもあることだ。
In the liquid-crystal display industry, which, like the semiconductor industry, is facing a harsh business environment, Toshiba Corp., Sony Corp. and Hitachi have agreed to set up a new company to integrate their operations to manufacture small- and medium-sized LCDs.
半導体と同じく厳しい環境が続く液晶業界では、東芝とソニー、日立製作所が中小型液晶事業を統合して新会社を立ち上げる。
The deal was struck under the leadership of the Innovation Network Corp. of Japan (INCJ), a government-backed investment fund set up to promote innovations. Most of the entity’s capital has been provided by the government, with the rest coming from private-sector companies.
音頭をとったのは、政府を中心に民間が一部出資する産業革新機構だ。
The INCJ will acquire a 70-percent stake in the new LCD company by purchasing 200 billion yen worth of its shares.
機構は、新会社に２千億円を出資し、株式の７割を握るという。
While the market for small- and medium-sized LCDs is expected to grow, fierce price competition in the market means quick and flexible decision-making is essential for success. Will the government-led consolidation work?
中小型液晶は市場の拡大は期待できるが、価格競争が激しく、機敏な経営判断が欠かせない。官主導の再編でうまくいくだろうか。
During the era when Japan was pursuing a clear goal of catching up with Western industrial nations, the government was able to provide effective leadership for the growth of Japanese industries. But that era is long gone.
欧米に追いつき、追い越すという明確な目標があり、政府が旗を振れた時代はとうに過ぎた。
Now, the private sector should be left to tackle the challenge of creating and nurturing new growth industries by using its own intellectual and other resources.
新産業をどう切り開いていくのかは、民間の知恵に任せるべきだろう。
The government’s role should be limited to supporting private-sector initiatives by improving the environment for corporate activities.
政府の役割は企業が活動しやすい環境を整え、後方支援に徹することだ。
EDITORIAL: Elpida’s bankruptcy is a warning against easy government bailouts
エルピーダ倒産―安易な救済への警鐘だ
Elpida Memory Inc., the world’s No. 3 maker of dynamic random-access memory (DRAM) chips used to store data in personal computers and other devices, has filed for bankruptcy protection under the Corporate Rehabilitation Law.
パソコンなどでデータを記憶する半導体ＤＲＡＭで世界３位のエルピーダメモリが、会社更生法の適用を申請して倒産した。
Elpida’s collapse under the weight of 448 billion yen ($5.6 billion) in liabilities represents the largest-ever corporate bankruptcy in Japan’s manufacturing sector.
負債総額は４４８０億円。製造業では過去最大だ。
Elpida is Japan’s sole remaining maker of DRAMs, created by integrating the DRAM manufacturing operations of NEC Corp., Hitachi Ltd. and Mitsubishi Electric Corp.
ＮＥＣと日立製作所、三菱電機の事業を集約した日本で唯一のＤＲＡＭメーカーである。
Elpida received an injection of 30 billion yen in capital from the government-owned Development Bank of Japan in 2009 following the global economic downturn triggered by the fall 2008 collapse of U.S. investment bank Lehman Brothers. The unusual bailout committed the government to absorb losses incurred by the company.
リーマン・ショック後の０９年には日本政策投資銀行から３００億円の出資を仰ぎ、損失は政府が補填（ほてん）する異例の公的支援を受けていた。
Elpida’s downfall was caused by a confluence of factors, including the heavy blow delivered to its bottom line by the yen’s sharp appreciation and a slump in global personal computer sales due partly to the sovereign debt crisis in Europe.
急激な円高による採算悪化、欧州危機を一因とするパソコンの世界的な販売不振など、様々な要因が重なった。
The fundamental cause of Elpida’s predicament, however, concerned structural challenges posed by competition from South Korean and Taiwanese rivals, led by Samsung Electronics Co., which have expanded their shares in the global DRAM market in recent years.
しかし、根本には、サムスン電子をはじめとする韓国、台湾勢に市場を奪われる構造的な苦境がある。
In the 1980s, Japanese makers controlled 70 percent of the world DRAM market.
ＤＲＡＭでは、８０年代に日本メーカーが世界市場の７割を占めた。
But the competitive landscape changed dramatically while Japanese chip makers were hamstrung by the export restrictions imposed on them as a result of a semiconductor trade dispute between Japan and the United States.
しかし、日米半導体摩擦に伴う輸出規制で日本勢が動きを封じられているうちに、様相は一変した。
Attaining leadership in the DRAM market requires continuing massive investments in technology and equipment.
ＤＲＡＭ事業で主導権を握るには、巨額の投資を続けることが不可欠だ。
South Korea’s Samsung has various other businesses that support its great financial strength. Elpida, which is dedicated to the DRAM business, apparently fought against hopeless odds when it challenged Samsung’s market leadership.
サムスンはほかにも様々な事業を持ち、財務基盤が厚い。エルピーダがＤＲＡＭ専業で対抗しようとしたことに無理があった。
Of the 30 billion yen of taxpayer money injected into Elpida, up to 28 billion yen may prove to be unrecoverable, according to the Ministry of Economy, Trade and Industry.
経済産業省によると、公的資金のうち最大で２８０億円が戻ってこない恐れがある。
For all its importance, the DRAM industry, unlike the financial and energy sectors, is not part of the social infrastructure that supports people’s everyday lives.
ＤＲＡＭ事業が重要だとはいえ、金融やエネルギーなど、日々の生活を支える社会インフラではない。
A direct injection of public funds into an ordinary private-sector company is regarded as unacceptable, except in very special cases.
一般の事業会社に公的資金を直接投入することは、よほどのことがない限り禁じ手だ。
The industry ministry should engage in serious soul-searching about its misguided and failed efforts to save Elpida, which also set the stage for an insider trading scandal that led to the indictment of a senior official at the ministry.
エルピーダ再建にかかわるインサイダー取引事件で幹部職員が起訴されたことを含め、経産省は猛省すべきだ。
What is troubling is the fact that there are other cases of potentially excessive government involvement in private-sector business affairs.
心配なのは、「官」が出過ぎているのでは、と思える事例がほかにもあることだ。
In the liquid-crystal display industry, which, like the semiconductor industry, is facing a harsh business environment, Toshiba Corp., Sony Corp. and Hitachi have agreed to set up a new company to integrate their operations to manufacture small- and medium-sized LCDs.
半導体と同じく厳しい環境が続く液晶業界では、東芝とソニー、日立製作所が中小型液晶事業を統合して新会社を立ち上げる。
The deal was struck under the leadership of the Innovation Network Corp. of Japan (INCJ), a government-backed investment fund set up to promote innovations. Most of the entity’s capital has been provided by the government, with the rest coming from private-sector companies.
音頭をとったのは、政府を中心に民間が一部出資する産業革新機構だ。
The INCJ will acquire a 70-percent stake in the new LCD company by purchasing 200 billion yen worth of its shares.
機構は、新会社に２千億円を出資し、株式の７割を握るという。
While the market for small- and medium-sized LCDs is expected to grow, fierce price competition in the market means quick and flexible decision-making is essential for success. Will the government-led consolidation work?
中小型液晶は市場の拡大は期待できるが、価格競争が激しく、機敏な経営判断が欠かせない。官主導の再編でうまくいくだろうか。
During the era when Japan was pursuing a clear goal of catching up with Western industrial nations, the government was able to provide effective leadership for the growth of Japanese industries. But that era is long gone.
欧米に追いつき、追い越すという明確な目標があり、政府が旗を振れた時代はとうに過ぎた。
Now, the private sector should be left to tackle the challenge of creating and nurturing new growth industries by using its own intellectual and other resources.
新産業をどう切り開いていくのかは、民間の知恵に任せるべきだろう。
The government’s role should be limited to supporting private-sector initiatives by improving the environment for corporate activities.
政府の役割は企業が活動しやすい環境を整え、後方支援に徹することだ。
2012/03/02
社説：エルピーダ破綻 民間の知恵で再建を
一昔前までは日本の電化製品が幅をきかせていました。
学校では日本語は人気の学習課目でした。
現在では大きく景色の様変わりが見受けられます。
タイの大型スーパーマーケット市場で人気家電はサムスンとLG、いずれも韓国勢。
日本語は北京語にその人気をされわれてしまっています。
冷ややかな現実はしっかり受け止める必要があるのかも知れません。
頑張れニッポン！
スラチャイ
(Mainichi Japan) February 29, 2012
Fully utilize private-sector wisdom to bail out failed Elpida Memory Inc.
社説：エルピーダ破綻 民間の知恵で再建を
Private-sector wisdom should be fully utilized to bail out the failed semiconductor manufacturer Elpida Memory Inc., which has gone under and applied for bankruptcy protection under the Corporate Rehabilitation Law.
エルピーダメモリが会社更生法の適用を申請した。
Elpida, which is the world's third largest manufacturer of semiconductors for memory, fell into a financial crisis following a sharp plunge in the market prices of such products and the yen's steep appreciation. It attempted to rehabilitate itself through a capital alliance with another company, but gave up after failing to raise sufficient operating funds. Its liabilities total 448 billion yen, the largest amount ever incurred by a failed manufacturer.
世界３位の記憶用半導体メーカーだが、価格の急落に円高などが重なり、資本提携で活路を探ったものの、資金繰りに窮し、自力再建を断念した。４４８０億円の負債総額は製造業の破綻では過去最大だ。
Japan had once been dominant in the international semiconductor market, and it became a focus of attention in Japan-U.S. trade friction. In the 1990s, however, manufacturers in South Korea and other emerging economies went on the offensive, causing Japanese manufacturers' market share to decline constantly. Many Japanese manufacturers were forced to merge their semiconductor divisions, and the business of semiconductors for memory was integrated into Elpida.
半導体は一時、日本が世界を席巻し、日米貿易摩擦の焦点ともなった分野だった。しかし、９０年代に入ると韓国などのメーカーの攻勢を受けて国内メーカーはシェアを落とし続けた。事業の統合を進めざるを得なくなり、記憶用半導体はエルピーダに集約された。
Fierce competition for investment in such semiconductor businesses continued. Whenever there was an excess of supply, the market prices of such products plummeted, threatening Elpida's business activity.
激しい投資競争はその後も続き、供給過剰に陥るたびに市況は急落し、エルピーダの経営を揺さぶった。
Following the collapse of the Lehman Brothers in 2008, Elpida became the first company to receive an infusion of public funds to rehabilitate itself under the Law on Special Measures for Industrial Revitalization.
リーマン・ショック後には、国が公的資金を投入して企業再生を目指す改正産業活力再生特別措置法（産活法）の適用第１号となり、経営の立て直しを進めてきた。
However, its business performance worsened rapidly due to a sharp plunge in market prices and the steep appreciation of the yen, and the period of its rehabilitation under the special measures law is due to end at the end of March.
しかし、市況の急落と円高により業績が急速に悪化する中で、３月末には産活法の適用期限を迎える。
Elpida sought to delay the deadline for repaying the public funds and obtain loans from private financial institutions to repay the taxpayers' money it had borrowed under the law. However, its negotiations on fundamentally rehabilitating itself, which is a prerequisite for such measures, did not proceed smoothly.
公的資金の返済延期や、金融機関からの融資の借り換えを模索したものの、その前提となる、抜本的な再建策をめぐる交渉は難航した。
Efforts to rehabilitate Elpida under the special measures law, which were led by the Economy, Trade and Industry Ministry, have come to a deadlock. The government must take it seriously that the failure of Elpida could cost taxpayers a total of 28 billion yen.
一方、産活法を適用して経済産業省主導で進められてきた再建策は、行き詰まったことになる。破綻によって最大２８０億円の国民負担が生じる可能性があるという。この点を重く受け止めねばならない。
The government led the rehabilitation of Elpida on the grounds that the semiconductors for memory sector is an industry indispensable for Japan. However, decisions on what industries are necessary for Japan should be left to the discretion of the private sector that invests funds in various businesses.
記憶用半導体は日本になくてはならない産業だというのが官主導の再建策につながった。しかし、何が必要なのかは、自らの資金を投じる民間の判断に委ねるというのが本来の姿だ。
New products, such as smartphones and tablet computers, will continue to hit the market. Those in the private sector are urged to discuss how to ensure that Japanese businesses retain their ability to develop semiconductors for memory that are suitable for such new products and that Japanese companies can utilize them.
パソコンなど汎用（はんよう）化したものは別として、多機能電話のスマートフォンやタブレット型端末のような新製品はこれからも登場する。そうした新製品に適した記憶用半導体の開発能力を保持し、日本企業が活用できるようにするにはどのようにしたらいいのか。民間同士の話し合いの中で知恵を出してもらいたい。
Elpida will aim to rehabilitate itself after its debt workout is completed. However, the failure of the company is expected to contribute to a realignment of the semiconductors for memory industry on a global scale.
破綻処理による債務整理でエルピーダは身軽になり、再建を目指すことになるが、同時に記憶用半導体の世界的な再編にさらに拍車をかけることになるだろう。
It is possible that an overseas manufacturer will place Elpida under its umbrella. However, South Korean manufacturers that have continued making massive amounts of investments are enjoying an overwhelming share on the global market. We should keep in mind that South Korean manufacturers may become the only suppliers of such semiconductors.
海外のメーカーがスポンサーになることも考えられる。ただ、巨額の投資を続ける韓国勢のシェアが今でも群を抜いており、場合によっては韓国勢以外に調達先がなくなる事態も想定しなければならないという状況にあることも忘れてはならない。
It is necessary to prevent fair competition from being restrained in realigning the industry.
健全な競争が阻害されぬようにということも、記憶用半導体の再編にあたって押さえておくべき点だ。
毎日新聞 2012年2月29日 2時35分
学校では日本語は人気の学習課目でした。
現在では大きく景色の様変わりが見受けられます。
タイの大型スーパーマーケット市場で人気家電はサムスンとLG、いずれも韓国勢。
日本語は北京語にその人気をされわれてしまっています。
冷ややかな現実はしっかり受け止める必要があるのかも知れません。
頑張れニッポン！
スラチャイ
(Mainichi Japan) February 29, 2012
Fully utilize private-sector wisdom to bail out failed Elpida Memory Inc.
社説：エルピーダ破綻 民間の知恵で再建を
Private-sector wisdom should be fully utilized to bail out the failed semiconductor manufacturer Elpida Memory Inc., which has gone under and applied for bankruptcy protection under the Corporate Rehabilitation Law.
エルピーダメモリが会社更生法の適用を申請した。
Elpida, which is the world's third largest manufacturer of semiconductors for memory, fell into a financial crisis following a sharp plunge in the market prices of such products and the yen's steep appreciation. It attempted to rehabilitate itself through a capital alliance with another company, but gave up after failing to raise sufficient operating funds. Its liabilities total 448 billion yen, the largest amount ever incurred by a failed manufacturer.
世界３位の記憶用半導体メーカーだが、価格の急落に円高などが重なり、資本提携で活路を探ったものの、資金繰りに窮し、自力再建を断念した。４４８０億円の負債総額は製造業の破綻では過去最大だ。
Japan had once been dominant in the international semiconductor market, and it became a focus of attention in Japan-U.S. trade friction. In the 1990s, however, manufacturers in South Korea and other emerging economies went on the offensive, causing Japanese manufacturers' market share to decline constantly. Many Japanese manufacturers were forced to merge their semiconductor divisions, and the business of semiconductors for memory was integrated into Elpida.
半導体は一時、日本が世界を席巻し、日米貿易摩擦の焦点ともなった分野だった。しかし、９０年代に入ると韓国などのメーカーの攻勢を受けて国内メーカーはシェアを落とし続けた。事業の統合を進めざるを得なくなり、記憶用半導体はエルピーダに集約された。
Fierce competition for investment in such semiconductor businesses continued. Whenever there was an excess of supply, the market prices of such products plummeted, threatening Elpida's business activity.
激しい投資競争はその後も続き、供給過剰に陥るたびに市況は急落し、エルピーダの経営を揺さぶった。
Following the collapse of the Lehman Brothers in 2008, Elpida became the first company to receive an infusion of public funds to rehabilitate itself under the Law on Special Measures for Industrial Revitalization.
リーマン・ショック後には、国が公的資金を投入して企業再生を目指す改正産業活力再生特別措置法（産活法）の適用第１号となり、経営の立て直しを進めてきた。
However, its business performance worsened rapidly due to a sharp plunge in market prices and the steep appreciation of the yen, and the period of its rehabilitation under the special measures law is due to end at the end of March.
しかし、市況の急落と円高により業績が急速に悪化する中で、３月末には産活法の適用期限を迎える。
Elpida sought to delay the deadline for repaying the public funds and obtain loans from private financial institutions to repay the taxpayers' money it had borrowed under the law. However, its negotiations on fundamentally rehabilitating itself, which is a prerequisite for such measures, did not proceed smoothly.
公的資金の返済延期や、金融機関からの融資の借り換えを模索したものの、その前提となる、抜本的な再建策をめぐる交渉は難航した。
Efforts to rehabilitate Elpida under the special measures law, which were led by the Economy, Trade and Industry Ministry, have come to a deadlock. The government must take it seriously that the failure of Elpida could cost taxpayers a total of 28 billion yen.
一方、産活法を適用して経済産業省主導で進められてきた再建策は、行き詰まったことになる。破綻によって最大２８０億円の国民負担が生じる可能性があるという。この点を重く受け止めねばならない。
The government led the rehabilitation of Elpida on the grounds that the semiconductors for memory sector is an industry indispensable for Japan. However, decisions on what industries are necessary for Japan should be left to the discretion of the private sector that invests funds in various businesses.
記憶用半導体は日本になくてはならない産業だというのが官主導の再建策につながった。しかし、何が必要なのかは、自らの資金を投じる民間の判断に委ねるというのが本来の姿だ。
New products, such as smartphones and tablet computers, will continue to hit the market. Those in the private sector are urged to discuss how to ensure that Japanese businesses retain their ability to develop semiconductors for memory that are suitable for such new products and that Japanese companies can utilize them.
パソコンなど汎用（はんよう）化したものは別として、多機能電話のスマートフォンやタブレット型端末のような新製品はこれからも登場する。そうした新製品に適した記憶用半導体の開発能力を保持し、日本企業が活用できるようにするにはどのようにしたらいいのか。民間同士の話し合いの中で知恵を出してもらいたい。
Elpida will aim to rehabilitate itself after its debt workout is completed. However, the failure of the company is expected to contribute to a realignment of the semiconductors for memory industry on a global scale.
破綻処理による債務整理でエルピーダは身軽になり、再建を目指すことになるが、同時に記憶用半導体の世界的な再編にさらに拍車をかけることになるだろう。
It is possible that an overseas manufacturer will place Elpida under its umbrella. However, South Korean manufacturers that have continued making massive amounts of investments are enjoying an overwhelming share on the global market. We should keep in mind that South Korean manufacturers may become the only suppliers of such semiconductors.
海外のメーカーがスポンサーになることも考えられる。ただ、巨額の投資を続ける韓国勢のシェアが今でも群を抜いており、場合によっては韓国勢以外に調達先がなくなる事態も想定しなければならないという状況にあることも忘れてはならない。
It is necessary to prevent fair competition from being restrained in realigning the industry.
健全な競争が阻害されぬようにということも、記憶用半導体の再編にあたって押さえておくべき点だ。
毎日新聞 2012年2月29日 2時35分
2012/03/01
Ｇ２０声明 欧州は自前の安全網拡充急げ
The Yomiuri Shimbun (Feb. 29, 2012)
Europe must step up efforts to bolster financial safety net
Ｇ２０声明 欧州は自前の安全網拡充急げ（2月28日付・読売社説）
Further efforts by Europe are indispensable if it is to contain its debt crisis. Japan, the United States and emerging economies took this stern position vis-a-vis Europe during the latest meeting of the Group of 20 economic powers.
欧州危機の封じ込めには、欧州の一層の自助努力が不可欠だ。
日米と新興国が厳しい注文を突き付けたと言えよう。
The G-20 meeting, which ended Sunday in Mexico after adopting a joint statement, was participated in by finance ministers and central bank governors of the 20 major economies, including Japan, the United States and the European Union plus China and Brazil.
日米欧と中国、ブラジルなどが参加したメキシコでの主要２０か国・地域（Ｇ２０）の財務相・中央銀行総裁会議は、共同声明を採択して閉幕した。
The focal point was how to bolster the International Monetary Fund's crisis war chest, but a conclusion was postponed until a G-20 financial ministers meeting scheduled for April.
焦点は、信用不安拡大に備えた国際通貨基金（ＩＭＦ）の資金基盤増強策だったが、決着は４月の財務相会合に先送りされた。
The communique pointed out that euro-zone countries "will reassess the strength of their support facilities in March" and "this will provide an essential input in our ongoing consideration to mobilize resources to the IMF." It was significant that the G-20 pressed Europe to bolster its own financial safety net before strengthening the IMF's financial resources.
声明は、ユーロ圏が３月中に自ら支援能力を「再評価」することが「Ｇ２０の重要な判断材料になる」と指摘した。ＩＭＦの融資枠拡大に先立ち、欧州に自前の安全網拡充を迫った意味は大きい。
The eurozone's emergency financial resources stand at no more than 500 billion euros (about 55 trillion yen), comprising those of the European Financial Stability Facility and the European Stability Mechanism.
信用不安国に対するユーロ圏の緊急融資枠は現在、欧州金融安定基金（ＥＦＳＦ）と、７月に発足させる欧州安定メカニズム（ＥＳＭ）を合わせて５０００億ユーロ（約５５兆円）にとどまる。
===
Germany remains wary
A plan is emerging in Europe to expand these firewall funds, but its materialization faces rough going. Germany, which is concerned it may have to bear an additional financial burden, takes a cautious view of the plan. The plan is also overshadowed by differences between two key assistance countries--Germany and France--and aid recipient countries, including Greece.
欧州では、これらの融資枠を拡大する案が浮上しているものの、具体化は難航している。追加負担を懸念するドイツが慎重で、独仏両国と、ギリシャなど被支援国との対立も影を落としている。
The EU will hold a meeting of top leaders of its member nations in early March. Will they be able to produce financial expansion measures that can win over the G-20? Its unity is being put to the test.
欧州連合（ＥＵ）は３月初めに首脳会議を開く。融資枠拡大などＧ２０を納得させる追加策を打ち出せるのか。結束が問われる。
The IMF is studying expansion of its financial capability by 500 billion dollars (about 40 trillion yen) and is asking Japan, the United States and China, among others, to provide funds.
ＩＭＦは、５０００億ドル（約４０兆円）の融資枠拡大を検討し、日米や中国などに資金拠出の協力を呼びかけている。
Tokyo and Beijing are studying the IMF's request, but Washington takes a wary view of the financial assistance mechanism and the provision of additional funds. It remains cautious because such plans are unlikely to be approved by Congress under current fiscal restraints and because it does not want to see China increase its voice in the IMF.
日中両国は前向きに検討中だが、米国は支援の枠組みと資金拠出に慎重姿勢を続ける。財政難の中、米議会の承認が得られる見通しがたたず、中国などの発言力増大も警戒しているためだ。
Europe hopes to get through the crisis with the IMF's assistance. To this end, it must work out its own additional financial measures.
欧州はＩＭＦ支援を追い風に、危機を乗り切りたいのが本音だろう。それには自助努力で追加措置に踏み出すことだ。
===
A new headache
The EU and other concerned European organizations last week decided on a second bailout for Greece, the nation that triggered the European debt crisis. This makes it likely that Greece will avoid default. But credit uncertainty is expected to smolder.
ＥＵなどが先週、震源地ギリシャへの第２次支援策を決めたことで、ギリシャが債務不履行（デフォルト）に陥る事態は回避されそうだが、信用不安はくすぶる。
The communique warned that "downside risks continue to be high." It is quite natural for the statement to issue such an alert.
共同声明が、「経済の下振れリスクは高い」と警鐘を鳴らしたのは当然だろう。
As a new headache for the world economy, the joint statement pointed out the risks of crude oil prices, which have been surging above 100 dollars per barrel due to the heightened tension over Iranian affairs and global monetary easing.
声明は、イラン情勢の緊迫化や世界的な金融緩和に伴って原油価格が１バレル＝１００ドル超に急騰していることも、世界経済の新たな懸念材料として警戒を表明した。
Higher crude oil prices impose a heavy burden on the Japanese economy, which has yet to begin a full recovery.
原油高は、本格的な景気回復が遅れる日本にとっても重荷だ。
The G-20 needs to ask oil-producing countries to ensure a stable supply while continuing its efforts to bolster price monitoring capabilities.
Ｇ２０は引き続き、価格の監視を強化するとともに、産油国に安定供給を求める必要がある。
(From The Yomiuri Shimbun, Feb. 28, 2012)
（2012年2月28日01時11分 読売新聞）
Europe must step up efforts to bolster financial safety net
Ｇ２０声明 欧州は自前の安全網拡充急げ（2月28日付・読売社説）
Further efforts by Europe are indispensable if it is to contain its debt crisis. Japan, the United States and emerging economies took this stern position vis-a-vis Europe during the latest meeting of the Group of 20 economic powers.
欧州危機の封じ込めには、欧州の一層の自助努力が不可欠だ。
日米と新興国が厳しい注文を突き付けたと言えよう。
The G-20 meeting, which ended Sunday in Mexico after adopting a joint statement, was participated in by finance ministers and central bank governors of the 20 major economies, including Japan, the United States and the European Union plus China and Brazil.
日米欧と中国、ブラジルなどが参加したメキシコでの主要２０か国・地域（Ｇ２０）の財務相・中央銀行総裁会議は、共同声明を採択して閉幕した。
The focal point was how to bolster the International Monetary Fund's crisis war chest, but a conclusion was postponed until a G-20 financial ministers meeting scheduled for April.
焦点は、信用不安拡大に備えた国際通貨基金（ＩＭＦ）の資金基盤増強策だったが、決着は４月の財務相会合に先送りされた。
The communique pointed out that euro-zone countries "will reassess the strength of their support facilities in March" and "this will provide an essential input in our ongoing consideration to mobilize resources to the IMF." It was significant that the G-20 pressed Europe to bolster its own financial safety net before strengthening the IMF's financial resources.
声明は、ユーロ圏が３月中に自ら支援能力を「再評価」することが「Ｇ２０の重要な判断材料になる」と指摘した。ＩＭＦの融資枠拡大に先立ち、欧州に自前の安全網拡充を迫った意味は大きい。
The eurozone's emergency financial resources stand at no more than 500 billion euros (about 55 trillion yen), comprising those of the European Financial Stability Facility and the European Stability Mechanism.
信用不安国に対するユーロ圏の緊急融資枠は現在、欧州金融安定基金（ＥＦＳＦ）と、７月に発足させる欧州安定メカニズム（ＥＳＭ）を合わせて５０００億ユーロ（約５５兆円）にとどまる。
===
Germany remains wary
A plan is emerging in Europe to expand these firewall funds, but its materialization faces rough going. Germany, which is concerned it may have to bear an additional financial burden, takes a cautious view of the plan. The plan is also overshadowed by differences between two key assistance countries--Germany and France--and aid recipient countries, including Greece.
欧州では、これらの融資枠を拡大する案が浮上しているものの、具体化は難航している。追加負担を懸念するドイツが慎重で、独仏両国と、ギリシャなど被支援国との対立も影を落としている。
The EU will hold a meeting of top leaders of its member nations in early March. Will they be able to produce financial expansion measures that can win over the G-20? Its unity is being put to the test.
欧州連合（ＥＵ）は３月初めに首脳会議を開く。融資枠拡大などＧ２０を納得させる追加策を打ち出せるのか。結束が問われる。
The IMF is studying expansion of its financial capability by 500 billion dollars (about 40 trillion yen) and is asking Japan, the United States and China, among others, to provide funds.
ＩＭＦは、５０００億ドル（約４０兆円）の融資枠拡大を検討し、日米や中国などに資金拠出の協力を呼びかけている。
Tokyo and Beijing are studying the IMF's request, but Washington takes a wary view of the financial assistance mechanism and the provision of additional funds. It remains cautious because such plans are unlikely to be approved by Congress under current fiscal restraints and because it does not want to see China increase its voice in the IMF.
日中両国は前向きに検討中だが、米国は支援の枠組みと資金拠出に慎重姿勢を続ける。財政難の中、米議会の承認が得られる見通しがたたず、中国などの発言力増大も警戒しているためだ。
Europe hopes to get through the crisis with the IMF's assistance. To this end, it must work out its own additional financial measures.
欧州はＩＭＦ支援を追い風に、危機を乗り切りたいのが本音だろう。それには自助努力で追加措置に踏み出すことだ。
===
A new headache
The EU and other concerned European organizations last week decided on a second bailout for Greece, the nation that triggered the European debt crisis. This makes it likely that Greece will avoid default. But credit uncertainty is expected to smolder.
ＥＵなどが先週、震源地ギリシャへの第２次支援策を決めたことで、ギリシャが債務不履行（デフォルト）に陥る事態は回避されそうだが、信用不安はくすぶる。
The communique warned that "downside risks continue to be high." It is quite natural for the statement to issue such an alert.
共同声明が、「経済の下振れリスクは高い」と警鐘を鳴らしたのは当然だろう。
As a new headache for the world economy, the joint statement pointed out the risks of crude oil prices, which have been surging above 100 dollars per barrel due to the heightened tension over Iranian affairs and global monetary easing.
声明は、イラン情勢の緊迫化や世界的な金融緩和に伴って原油価格が１バレル＝１００ドル超に急騰していることも、世界経済の新たな懸念材料として警戒を表明した。
Higher crude oil prices impose a heavy burden on the Japanese economy, which has yet to begin a full recovery.
原油高は、本格的な景気回復が遅れる日本にとっても重荷だ。
The G-20 needs to ask oil-producing countries to ensure a stable supply while continuing its efforts to bolster price monitoring capabilities.
Ｇ２０は引き続き、価格の監視を強化するとともに、産油国に安定供給を求める必要がある。
(From The Yomiuri Shimbun, Feb. 28, 2012)
（2012年2月28日01時11分 読売新聞）
2012/02/29
衆院選抜本改革 現行制度の問題点を洗い出せ
The Yomiuri Shimbun (Feb. 28, 2012)
Scrutinize problems of current lower house election system
衆院選抜本改革 現行制度の問題点を洗い出せ（2月27日付・読売社説）
To carry out drastic reform of the House of Representatives election system, it is indispensable to scrutinize the current system's problems and reflect on what politics should be.
衆院の選挙制度の抜本改革には、現行制度の問題点を洗い出し、あるべき政治の姿を考える作業が欠かせない。
In connection with the issue of rectifying the vote-value disparity, discussions continue in the Diet to drastically change the existing system, which combines single-seat constituencies and proportional representation, in addition to cutting the number of lower house seats.
国会では、「１票の格差」の是正問題を契機に、定数削減と合わせて、小選挙区比例代表並立制を抜本的に改めるべきだとの議論が続いている。
A suprapartisan parliamentary league of lawmakers seeking drastic reform of the lower house election system, for example, decided during its general meeting on Thursday that it will aim to introduce a multiple-seat constituency system.
超党派の「衆院選挙制度の抜本改革をめざす議員連盟」が２３日の総会で、中選挙区制の導入を目指すと決めたのもその一つだ。
More than 150 lawmakers from the ruling and opposition parties are members of the group, with former Liberal Democratic Party Secretary General Koichi Kato and Democratic Party of Japan Supreme Adviser Kozo Watanabe serving as representatives.
議連は、加藤紘一・自民党元幹事長と渡部恒三・民主党最高顧問が代表世話人を務め、１５０人超の与野党議員が参加している。
It is worth noting that the idea of reinstating the multiple-seat constituency system, which New Komeito and other political parties sought in the past, has become a suprapartisan movement involving members of the DPJ and the LDP.
かつて公明党などが求めていた中選挙区制の復活が、民主、自民両党を含む超党派の動きに広がったことは注目されよう。
Discussion documents prepared by the league argue that under the current single-seat constituency system, candidates only voice opinions that go down well with everyone.
議連が作成した討議資料は、現行の小選挙区制度について、「候補者が万人受けする主張ばかりをする」と指摘している。
Because candidates need support from a wide range of people to be elected, the league says they tend to get caught up in populism. It added that candidates' policy expertise becomes impaired and their quality as a whole deteriorates.
当選に幅広い支持が不可欠なため、候補者がポピュリズムに陥りやすいというものだ。政策的専門性が低下し、「候補者の資質が全体として劣化」したという。
===
Status quo yields lopsided results
In addition, as seen in the resounding victory of the LDP in the 2005 lower house election and of the DPJ in the 2009 lower house election, the documents also say the single-seat constituency system tends to make the number of seats won by a party either extremely large or very small, making politics rather unstable.
また、２００５年と０９年の衆院選で自民、民主各党がそれぞれ圧勝したように、獲得議席の振れ幅が極端になり、「政治をかえって不安定化する」とも明記した。
We share such concerns. However, the most important thing is whether reinstating the multiple-seat constituency system will lead to improved politics.
問題意識は共有できる。肝心なのは、中選挙区制の復活が政治の改善につながるかどうかだ。
The multiple-seat constituency system, which was in place until 1993, drew much criticism. Under that system, political parties and policies were not given top priority when election campaigns were fought. Instead, candidates competed by doing favors for voters, which costs a lot of money. In the LDP, faction-led politics dominated. It was also pointed out that a change in government was difficult to achieve.
１９９３年まで実施されていた旧中選挙区制には、多くの批判があった。選挙が政党・政策本位ではなく、個人のサービス競争に陥り、カネがかかる。自民党では、派閥政治がはびこった。政権交代が困難だとも指摘された。
The situation of politics and money has changed remarkably in the past 20 years, as has the status of faction-led politics, but a return to the harmful effects experienced in the past would be unworthy to be called reform.
この約２０年間で、政治とカネや、派閥政治のあり方は様変わりしたとは言え、かつての弊害を繰り返すのでは改革に値しない。
===
Many ideas in the arena
The league is discussing a plan to reduce the number of lower house seats from the current 480 to either 400 or 450. It is also considering creating constituencies with two to five seats and a new voting method. These ideas need to be thoroughly discussed.
議連は、総定数を現行４８０から４００または４５０に減らし、２人区～５人区を設ける案や投票方式を工夫することなどを検討している。十分な吟味が必要だ。
For drastic reform of the lower house election system, discussions are under way on various measures beside the proposed multiple-seat constituency system. Revisions to the current system are one idea. Another is a system combining single-seat constituencies and proportional representation with a new method of allotting proportional representation seats in a way beneficial to parties that hold a smaller number of seats from single-seat electoral contests. A proportional representation system is also being discussed.
抜本改革に向け、中選挙区制以外にも、現行制度の修正や小選挙区比例代表連用制、比例代表制なども議論の対象となっている。
One thing that must be kept in mind is that election system reform should make it difficult for a divided Diet to occur so political confusion will not be created. It is also important to think about the respective roles shouldered by the lower house and the House of Councillors, and create a lower house election system suitable for the lower house's role.
忘れてならないのは、衆参ねじれを起きにくくし、政治の混乱を招かないという視点だ。衆参の役割分担を考え、それにふさわしい選挙制度にすることも大切だ。
It is also necessary to deepen discussions by setting up an election system council of experts, rather than simply leaving the matter to politicians, who tend to care most of all about the rise and fall of their own parties.
自党の消長を第一に考えがちな政治家任せにせず、有識者による選挙制度審議会を設けて論議を深める必要もあろう。
(From The Yomiuri Shimbun, Feb. 27, 2012)
（2012年2月27日01時08分 読売新聞）
Scrutinize problems of current lower house election system
衆院選抜本改革 現行制度の問題点を洗い出せ（2月27日付・読売社説）
To carry out drastic reform of the House of Representatives election system, it is indispensable to scrutinize the current system's problems and reflect on what politics should be.
衆院の選挙制度の抜本改革には、現行制度の問題点を洗い出し、あるべき政治の姿を考える作業が欠かせない。
In connection with the issue of rectifying the vote-value disparity, discussions continue in the Diet to drastically change the existing system, which combines single-seat constituencies and proportional representation, in addition to cutting the number of lower house seats.
国会では、「１票の格差」の是正問題を契機に、定数削減と合わせて、小選挙区比例代表並立制を抜本的に改めるべきだとの議論が続いている。
A suprapartisan parliamentary league of lawmakers seeking drastic reform of the lower house election system, for example, decided during its general meeting on Thursday that it will aim to introduce a multiple-seat constituency system.
超党派の「衆院選挙制度の抜本改革をめざす議員連盟」が２３日の総会で、中選挙区制の導入を目指すと決めたのもその一つだ。
More than 150 lawmakers from the ruling and opposition parties are members of the group, with former Liberal Democratic Party Secretary General Koichi Kato and Democratic Party of Japan Supreme Adviser Kozo Watanabe serving as representatives.
議連は、加藤紘一・自民党元幹事長と渡部恒三・民主党最高顧問が代表世話人を務め、１５０人超の与野党議員が参加している。
It is worth noting that the idea of reinstating the multiple-seat constituency system, which New Komeito and other political parties sought in the past, has become a suprapartisan movement involving members of the DPJ and the LDP.
かつて公明党などが求めていた中選挙区制の復活が、民主、自民両党を含む超党派の動きに広がったことは注目されよう。
Discussion documents prepared by the league argue that under the current single-seat constituency system, candidates only voice opinions that go down well with everyone.
議連が作成した討議資料は、現行の小選挙区制度について、「候補者が万人受けする主張ばかりをする」と指摘している。
Because candidates need support from a wide range of people to be elected, the league says they tend to get caught up in populism. It added that candidates' policy expertise becomes impaired and their quality as a whole deteriorates.
当選に幅広い支持が不可欠なため、候補者がポピュリズムに陥りやすいというものだ。政策的専門性が低下し、「候補者の資質が全体として劣化」したという。
===
Status quo yields lopsided results
In addition, as seen in the resounding victory of the LDP in the 2005 lower house election and of the DPJ in the 2009 lower house election, the documents also say the single-seat constituency system tends to make the number of seats won by a party either extremely large or very small, making politics rather unstable.
また、２００５年と０９年の衆院選で自民、民主各党がそれぞれ圧勝したように、獲得議席の振れ幅が極端になり、「政治をかえって不安定化する」とも明記した。
We share such concerns. However, the most important thing is whether reinstating the multiple-seat constituency system will lead to improved politics.
問題意識は共有できる。肝心なのは、中選挙区制の復活が政治の改善につながるかどうかだ。
The multiple-seat constituency system, which was in place until 1993, drew much criticism. Under that system, political parties and policies were not given top priority when election campaigns were fought. Instead, candidates competed by doing favors for voters, which costs a lot of money. In the LDP, faction-led politics dominated. It was also pointed out that a change in government was difficult to achieve.
１９９３年まで実施されていた旧中選挙区制には、多くの批判があった。選挙が政党・政策本位ではなく、個人のサービス競争に陥り、カネがかかる。自民党では、派閥政治がはびこった。政権交代が困難だとも指摘された。
The situation of politics and money has changed remarkably in the past 20 years, as has the status of faction-led politics, but a return to the harmful effects experienced in the past would be unworthy to be called reform.
この約２０年間で、政治とカネや、派閥政治のあり方は様変わりしたとは言え、かつての弊害を繰り返すのでは改革に値しない。
===
Many ideas in the arena
The league is discussing a plan to reduce the number of lower house seats from the current 480 to either 400 or 450. It is also considering creating constituencies with two to five seats and a new voting method. These ideas need to be thoroughly discussed.
議連は、総定数を現行４８０から４００または４５０に減らし、２人区～５人区を設ける案や投票方式を工夫することなどを検討している。十分な吟味が必要だ。
For drastic reform of the lower house election system, discussions are under way on various measures beside the proposed multiple-seat constituency system. Revisions to the current system are one idea. Another is a system combining single-seat constituencies and proportional representation with a new method of allotting proportional representation seats in a way beneficial to parties that hold a smaller number of seats from single-seat electoral contests. A proportional representation system is also being discussed.
抜本改革に向け、中選挙区制以外にも、現行制度の修正や小選挙区比例代表連用制、比例代表制なども議論の対象となっている。
One thing that must be kept in mind is that election system reform should make it difficult for a divided Diet to occur so political confusion will not be created. It is also important to think about the respective roles shouldered by the lower house and the House of Councillors, and create a lower house election system suitable for the lower house's role.
忘れてならないのは、衆参ねじれを起きにくくし、政治の混乱を招かないという視点だ。衆参の役割分担を考え、それにふさわしい選挙制度にすることも大切だ。
It is also necessary to deepen discussions by setting up an election system council of experts, rather than simply leaving the matter to politicians, who tend to care most of all about the rise and fall of their own parties.
自党の消長を第一に考えがちな政治家任せにせず、有識者による選挙制度審議会を設けて論議を深める必要もあろう。
(From The Yomiuri Shimbun, Feb. 27, 2012)
（2012年2月27日01時08分 読売新聞）
2012/02/28
風知草：どこで間違えたか＝山田孝男
カフェ友が読んだら怒り狂ってしまうような内容の記事ですが、あえて掲載しました。
AIJの事件はまだ真相がまったくわかりませんが、ライブドア事件みたいに日本の景気回復に悪影響を与えるのではないかと心配しています。
記事はイモーショナルに過ぎるきらいはありますが、楽しく読まさせていただけました。
やはり、どこまでも経済成長を続けないといけないということでしょうかね。それとも足下をみつめなおす。
団塊の世代はそれでも我慢しましたが、若者にそれと同じものを求めるのは酷なような気がしています。
我々の新入社員のときには土日も働くのがあたりまえでした（民間のみ）。
中にはそれが耐えられないで退職した人間もいましたが。そちらがまともだったのかも。
スラチャイ
(Mainichi Japan) February 27, 2012
Zero-growth plan from decades ago applies to Japan today
風知草：どこで間違えたか＝山田孝男
The scandal surrounding AIJ Investment Advisors Co., an asset-management firm where some 200 billion yen in corporate pension money has gone missing, follows the same plot as the American film "Tower Heist" (Japanese title: "Penthouse") that's currently showing in theaters across Japan.
投資顧問会社が、企業から預かった年金資金２０００億円をパーにした。公開中のハリウッド映画「ペントハウス」を地でいく事件である。
In the Hollywood version, Josh, the protagonist played by Ben Stiller, joins forces with ex-convict Slide, played by Eddy Murphy, to win back the hidden assets of wealthy businessman Arthur Shaw played by Alan Alda. In the unfolding Japanese case, it's still unclear who the bad guy is, and there are no prospects of the missing money being returned to its rightful owners.
映画の方は、金融王に年金資金を巻き上げられたベン・スティラーが、ムショ帰りの泥棒エディ・マーフィーと組み、金融王の隠し財産を奪い返す。現実の事件は、誰がどう悪いかまだ読めず、消えたカネが元に戻る見通しはない。
I read the transcript of a Feb. 8 lecture given in Osaka by investment banker Hideki Mitani, who even while working in the finance sector, has warned against the kind of avaricious capitalism that drives people to live large even if it means going into debt to do so.
折も折、金融業界にいながら「借金してでも羽振りよく」式の強欲資本主義に警鐘を鳴らす投資銀行家、神谷（みたに）秀樹（５８）の講演（８日、大阪市）の記録を興味深く読んだ。
Investment banks are financial institutions specialized in issuing corporate securities, brokering mergers and acquisitions, and offering investment advice. Following stints at Sumitomo Bank (now Sumitomo Mitsui Banking Corp.) and The Goldman Sachs Group, Mitani founded the investment bank Roberts Mitani in New York in 1992.
投資銀行というのは企業の証券発行や合併・買収の仲介、投資アドバイスを専門とする金融機関である。神谷は住友（現三井住友）銀行、米ゴールドマン・サックスを経て、９２年、ニューヨークで投資銀行ロバーツ・ミタニを創業した。
"The root of the problem lies in the belief that 'infinite growth equals good,'" Mitani said in the lecture. He explained that the Occupy Wall Street movement, the euro crisis and the Fukushima nuclear disaster are all consequences of "indiscreet financial expansion" that require fundamental change.
「誤りの原点は『無限の成長＝善』という信仰にある」と神谷は言う。ウォール街の占拠騒動も、ユーロ危機も、福島原発震災も、すべて「無分別な経済膨張」の帰結であり、根本から改めなければと。
I first learned of Mitani through a book titled "Nihon wa warukunai, waruino wa Amerika da" (It's Not Japan's Fault, It's America's), written by the late Osamu Shimomura, the brains behind Japanese economic policy rolled out during Hayato Ikeda's tenure as prime minister. The paperback edition of the book was published in 2009 and came with a preface written by Mitani that said: "This very book indicates the correct path that Japan should take."
私が神谷の名を初めて知ったのは、池田勇人元首相の経済ブレーンだった下村治の遺著「日本は悪くない／悪いのはアメリカだ」の文春文庫版が出た０９年である。神谷は文庫版の序文にこう書いた。「本書にこそ日本が進むべき『正しい道』が示されている」－－。
So what, then, is "the correct path?" It is the path in which we prepare ourselves for a worldwide depression, and start anew from a state of diminished equilibrium. It's a path in which we scrape away the gold-plated surface of our abnormally-bloated everyday lives, trim the fat, and move toward health. It's a path in which we are not swayed by frivolous money games, and instead reclaim a sober national economy.
正しい道はどんな道か。世界大不況を覚悟し、縮小均衡から再出発する道だ。異常に膨張した生活のメッキをはがし、ゼイ肉を落とし、健康体へ向かう道だ。浮薄なマネーゲームに振り回されず、堅実な国民経済を取り戻す道だ……。
It was in 1987 that Shimomura made these arguments, but Kamiya stated that they still applied to us today. At the time, Ronald Reagan was in his second term as U.S. president, and the administration of Japanese Prime Minister Yasuhiro Nakasone was coming to an end. The biggest concern then was Japan's excess of exports over imports in its dealings with the U.S. A large number of Japanese called for a cooperative stance toward the U.S.; in other words, market liberalization.
下村がそう論じたのは８７年だが、今なお通用すると神谷は言う。当時、アメリカはレーガン政権２期目、日本は中曽根政権末期。日米間の懸案は日本の対米輸出超過だった。日本国内も対米協調優先、市場開放促進が大勢だった。
The 77-year-old Shimomura strongly objected to such thought. He pointed to Reaganomics -- which promoted excessive consumption through major tax cuts -- as distorting the U.S. economy, and said that there was no reason for Japan to buy U.S. products, or create unnecessary domestic demand simply because it feels apologetic for its trade surplus.
そこへ「バカを言うな」と斬り込んだのが、当時７７歳の下村だ。米国経済をゆがめているのは、大減税で過剰消費をあおるレーガンの政策ではないか、日本が恐縮して米国製品を買ったり、無用な内需を掘り起こす必要などどこにもない－－と火を噴く反撃に出た。
The book's title sounds so obviously exclusionist and aggressive, which matches the image of a lone aging economist's rage. Surely it was the publisher who decided on the title, but I suspect Shimomura green-lighted it not as an expression of his anger toward the U.S., but rather toward Japanese leaders who ingratiated themselves with the U.S.
「日本は悪くない／悪いのはアメリカだ」という書名はいかにも排外的、攻撃的だが、孤高の老エコノミストの憤怒と釣り合っている。決めたのは出版社に違いないが、下村は、アメリカではなく、相手がアメリカと見れば過度に卑屈になる日本の指導層への怒りを込めて受け入れたと想像する。
Mitani's father was Shimomura's subordinate in the Ministry of Finance. On the recommendation of his father, the younger Mitani familiarized himself with Shimomura's writings from the time he was a student. Although Shimomura was originally the theorist behind Japan's high-speed economic growth policy, this changed with the oil crisis in 1973, after which he advocated zero economic growth. "The conditions for growth have been lost," he explained.
神谷の厳父は大蔵省（現財務省）で下村の後輩だった。神谷は父の勧めで学生時代から下村の著作に親しんだ。下村は高度成長政策の理論的支柱だったが、７３年の石油危機からゼロ成長論に転じ、「成長の条件が失われた」と説明した。
With the spread of energy-saving technologies and policies, Japan once again ran headlong onto the path of growth. Shimomura was forgotten. As he had explained earlier, however, an increase in domestic demand led to the burst of the economic bubble, turning Japan into a country plagued by suicides and solitary deaths. The U.S., meanwhile, became a country in which the wealthiest 1 percent rode around in Ferraris while treating money like water.
省エネが進んで再び成長が始まり、下村は忘れられた。案の定、内需拡大の末にバブルがはじけ、日本は自殺と孤独死の国になった。アメリカは１％の富豪がフェラーリに乗って札ビラを切る格差大国になった。
Shimomura had been right.
下村は正しかった。
Mitani closed his aforementioned lecture with the following plea: "Why don't we reconfirm the meaning of Shimomura's turnabout from promoting high-speed economic growth to advocating zero growth?"
「下村が高度成長論からゼロ成長論に豹変（ひょうへん）した意義を、もう一度確かめようではありませんか」。そう呼びかけて神谷の講演は終わっている。
(By Takao Yamada, Expert Senior Writer)
（敬称略）（毎週月曜日掲載）
毎日新聞 2012年2月27日 東京朝刊
AIJの事件はまだ真相がまったくわかりませんが、ライブドア事件みたいに日本の景気回復に悪影響を与えるのではないかと心配しています。
記事はイモーショナルに過ぎるきらいはありますが、楽しく読まさせていただけました。
やはり、どこまでも経済成長を続けないといけないということでしょうかね。それとも足下をみつめなおす。
団塊の世代はそれでも我慢しましたが、若者にそれと同じものを求めるのは酷なような気がしています。
我々の新入社員のときには土日も働くのがあたりまえでした（民間のみ）。
中にはそれが耐えられないで退職した人間もいましたが。そちらがまともだったのかも。
スラチャイ
(Mainichi Japan) February 27, 2012
Zero-growth plan from decades ago applies to Japan today
風知草：どこで間違えたか＝山田孝男
The scandal surrounding AIJ Investment Advisors Co., an asset-management firm where some 200 billion yen in corporate pension money has gone missing, follows the same plot as the American film "Tower Heist" (Japanese title: "Penthouse") that's currently showing in theaters across Japan.
投資顧問会社が、企業から預かった年金資金２０００億円をパーにした。公開中のハリウッド映画「ペントハウス」を地でいく事件である。
In the Hollywood version, Josh, the protagonist played by Ben Stiller, joins forces with ex-convict Slide, played by Eddy Murphy, to win back the hidden assets of wealthy businessman Arthur Shaw played by Alan Alda. In the unfolding Japanese case, it's still unclear who the bad guy is, and there are no prospects of the missing money being returned to its rightful owners.
映画の方は、金融王に年金資金を巻き上げられたベン・スティラーが、ムショ帰りの泥棒エディ・マーフィーと組み、金融王の隠し財産を奪い返す。現実の事件は、誰がどう悪いかまだ読めず、消えたカネが元に戻る見通しはない。
I read the transcript of a Feb. 8 lecture given in Osaka by investment banker Hideki Mitani, who even while working in the finance sector, has warned against the kind of avaricious capitalism that drives people to live large even if it means going into debt to do so.
折も折、金融業界にいながら「借金してでも羽振りよく」式の強欲資本主義に警鐘を鳴らす投資銀行家、神谷（みたに）秀樹（５８）の講演（８日、大阪市）の記録を興味深く読んだ。
Investment banks are financial institutions specialized in issuing corporate securities, brokering mergers and acquisitions, and offering investment advice. Following stints at Sumitomo Bank (now Sumitomo Mitsui Banking Corp.) and The Goldman Sachs Group, Mitani founded the investment bank Roberts Mitani in New York in 1992.
投資銀行というのは企業の証券発行や合併・買収の仲介、投資アドバイスを専門とする金融機関である。神谷は住友（現三井住友）銀行、米ゴールドマン・サックスを経て、９２年、ニューヨークで投資銀行ロバーツ・ミタニを創業した。
"The root of the problem lies in the belief that 'infinite growth equals good,'" Mitani said in the lecture. He explained that the Occupy Wall Street movement, the euro crisis and the Fukushima nuclear disaster are all consequences of "indiscreet financial expansion" that require fundamental change.
「誤りの原点は『無限の成長＝善』という信仰にある」と神谷は言う。ウォール街の占拠騒動も、ユーロ危機も、福島原発震災も、すべて「無分別な経済膨張」の帰結であり、根本から改めなければと。
I first learned of Mitani through a book titled "Nihon wa warukunai, waruino wa Amerika da" (It's Not Japan's Fault, It's America's), written by the late Osamu Shimomura, the brains behind Japanese economic policy rolled out during Hayato Ikeda's tenure as prime minister. The paperback edition of the book was published in 2009 and came with a preface written by Mitani that said: "This very book indicates the correct path that Japan should take."
私が神谷の名を初めて知ったのは、池田勇人元首相の経済ブレーンだった下村治の遺著「日本は悪くない／悪いのはアメリカだ」の文春文庫版が出た０９年である。神谷は文庫版の序文にこう書いた。「本書にこそ日本が進むべき『正しい道』が示されている」－－。
So what, then, is "the correct path?" It is the path in which we prepare ourselves for a worldwide depression, and start anew from a state of diminished equilibrium. It's a path in which we scrape away the gold-plated surface of our abnormally-bloated everyday lives, trim the fat, and move toward health. It's a path in which we are not swayed by frivolous money games, and instead reclaim a sober national economy.
正しい道はどんな道か。世界大不況を覚悟し、縮小均衡から再出発する道だ。異常に膨張した生活のメッキをはがし、ゼイ肉を落とし、健康体へ向かう道だ。浮薄なマネーゲームに振り回されず、堅実な国民経済を取り戻す道だ……。
It was in 1987 that Shimomura made these arguments, but Kamiya stated that they still applied to us today. At the time, Ronald Reagan was in his second term as U.S. president, and the administration of Japanese Prime Minister Yasuhiro Nakasone was coming to an end. The biggest concern then was Japan's excess of exports over imports in its dealings with the U.S. A large number of Japanese called for a cooperative stance toward the U.S.; in other words, market liberalization.
下村がそう論じたのは８７年だが、今なお通用すると神谷は言う。当時、アメリカはレーガン政権２期目、日本は中曽根政権末期。日米間の懸案は日本の対米輸出超過だった。日本国内も対米協調優先、市場開放促進が大勢だった。
The 77-year-old Shimomura strongly objected to such thought. He pointed to Reaganomics -- which promoted excessive consumption through major tax cuts -- as distorting the U.S. economy, and said that there was no reason for Japan to buy U.S. products, or create unnecessary domestic demand simply because it feels apologetic for its trade surplus.
そこへ「バカを言うな」と斬り込んだのが、当時７７歳の下村だ。米国経済をゆがめているのは、大減税で過剰消費をあおるレーガンの政策ではないか、日本が恐縮して米国製品を買ったり、無用な内需を掘り起こす必要などどこにもない－－と火を噴く反撃に出た。
The book's title sounds so obviously exclusionist and aggressive, which matches the image of a lone aging economist's rage. Surely it was the publisher who decided on the title, but I suspect Shimomura green-lighted it not as an expression of his anger toward the U.S., but rather toward Japanese leaders who ingratiated themselves with the U.S.
「日本は悪くない／悪いのはアメリカだ」という書名はいかにも排外的、攻撃的だが、孤高の老エコノミストの憤怒と釣り合っている。決めたのは出版社に違いないが、下村は、アメリカではなく、相手がアメリカと見れば過度に卑屈になる日本の指導層への怒りを込めて受け入れたと想像する。
Mitani's father was Shimomura's subordinate in the Ministry of Finance. On the recommendation of his father, the younger Mitani familiarized himself with Shimomura's writings from the time he was a student. Although Shimomura was originally the theorist behind Japan's high-speed economic growth policy, this changed with the oil crisis in 1973, after which he advocated zero economic growth. "The conditions for growth have been lost," he explained.
神谷の厳父は大蔵省（現財務省）で下村の後輩だった。神谷は父の勧めで学生時代から下村の著作に親しんだ。下村は高度成長政策の理論的支柱だったが、７３年の石油危機からゼロ成長論に転じ、「成長の条件が失われた」と説明した。
With the spread of energy-saving technologies and policies, Japan once again ran headlong onto the path of growth. Shimomura was forgotten. As he had explained earlier, however, an increase in domestic demand led to the burst of the economic bubble, turning Japan into a country plagued by suicides and solitary deaths. The U.S., meanwhile, became a country in which the wealthiest 1 percent rode around in Ferraris while treating money like water.
省エネが進んで再び成長が始まり、下村は忘れられた。案の定、内需拡大の末にバブルがはじけ、日本は自殺と孤独死の国になった。アメリカは１％の富豪がフェラーリに乗って札ビラを切る格差大国になった。
Shimomura had been right.
下村は正しかった。
Mitani closed his aforementioned lecture with the following plea: "Why don't we reconfirm the meaning of Shimomura's turnabout from promoting high-speed economic growth to advocating zero growth?"
「下村が高度成長論からゼロ成長論に豹変（ひょうへん）した意義を、もう一度確かめようではありませんか」。そう呼びかけて神谷の講演は終わっている。
(By Takao Yamada, Expert Senior Writer)
（敬称略）（毎週月曜日掲載）
毎日新聞 2012年2月27日 東京朝刊
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