If the EU-appointed technocrat governments have no legitimacy, neither do the Parliaments that voted them in.
Unlike Labor’s previous bouts of economic rationalism, say, as under Hawke and Keating, this time business aren’t especially asking for it.
Australian politics in 2011 centres around one question: can Gillard shrug off the backers that put her into power?
There was a time when reform didn’t used to be such a fashionable word.
Before a sunrise, there has to be a sunset.
These decades of stagnant real wages is the background that is usually forgotten by billionaires like George Soros and Bill Gross when they get worked up about the rise of credit.
It might be that it doesn’t matter and we are not in a lull between the global banking crisis becoming a global fiscal crisis and that indeed the worst is now over and growth will resume. If so, why are some of our brightest talking austerity?
Labor put a positive gloss on the numbers yesterday, but ironically so did the coalition.
If Labor can look credible enough on climate change, whatever the next election will be fought on, that should be enough to win it.
Treasury’s unusual move in projecting growth at a higher trend and for a longer forward projection is necessary to provide a guide path out of the downturn that does not come from the economic programs of the political class.