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Health minister resigns over premium dispute

Department of Health Minister Yaung Chih-liang (楊志良) tendered his resignation in a shock move yesterday, saying he could not fulfill Premier Wu Den-yih’s (吳敦義) request that 75 percent of the insured be exempted from a proposal to increase national health insurance premiums.

Wu rejected Yaung’s resignation late last night, however. Executive Yuan spokesman Johnny Chiang (江啟臣) said the premier hoped Yaung would stay in the position.

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China sees bank risks in local-government financing

Chinese central bank Governor Zhou Xiaochuan (周小川) said that local-government financing vehicles using land as collateral may pose risks for the nation’s banks.

“When land prices rise, there may be over-valuation of land,” Zhou said at a press briefing in Beijing yesterday. “In the future, if land prices fall, there may be a difference in the assessment of the loan.”

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Newsflash

Opposition parties yesterday vowed to begin a “10-year resistance” against the government’s plan to sign an economic cooperation framework agreement (ECFA) with China, including organizing large-scale protests calling for a referendum on the controversial pact.

The Executive Yuan’s Referendum Review Committee on Thursday night voted 12-4 against an opposition-supported referendum proposal asking voters whether they agreed that the government should sign an ECFA with China. The committee said the question did not fall under what was allowed under the Referendum Act (公民投票法).