Japan’s PM Will Resign

Japanese broadcaster NHK is reporting that Japan’s prime minister, Yukio Hatoyama, intends to step down from his post. Hatoyama has grown increasingly unpopular within his Democratic Party, and members have been calling for him to step down in time for parliament elections on July 11. Hatoyama has only been at his post for eight months, and a resignation would make him the fourth consecutive prime minister to quit after less than a year in office. Hatoyama’s likely successor is Finance Minister Naoto Kan, who has fought for raising sales taxes to fund social welfare and for fighting deflation. Japan’s national debt is almost double its GDP.