Reforms are still possible … but they take time
Mr Key’s defining strategy is one of incremental radicalism.
Mr Key’s defining strategy is one of incremental radicalism.
At the risk of sounding like a broken record, the eurozone is an unworkable construction which will condemn its members to repeated crises like the one first experienced in Greece.
Stock markets used to be more buoyant just before Christmas, but that effect has been in decline in most capital markets – except for New Zealand.
In late 2009, Greece started the eurozone crisis.
New Zealand’s future prosperity depends on the degree to which public opinion will support productivity-enhancing reforms and on the quality of political leadership in building constituencies for reform and implementing acceptable reforms.
New Zealand proves that reforms, even in mature democracies, are still possible.
Do today’s politicians have the courage to make hard choices?
Ultimately, Australia’s future prosperity depends on Abbott’s succeeding in just that.
Kenneth Rogoff may be a good economist but he ignores something quite fundamental about the role of money.
For Germany’s reputation as a place to do business, both cases are damaging.
© Dr Oliver Hartwich