John Key has called on Clark to work with National to work thorough a " politically durable solution" to the banking crisis.
He believes that we need a decision sooner than later and that more changes are needed to the deposit guarantee scheme.
We are glad that he is acting. He needed to - the banks are becoming increasingly jittery by the day and we are too small a nation to withstand big economic shocks.
Clark must respond and sit down with Key and work through a bi partisan solution - this is the time to put aside power and do what is right for the nation.
We , Wellington Hive, Bernard Hickey, Fran O'Sullivan and just about every economist worth their salt have been waiting for this sort of response and warning of the consequences if something wasn't done.We only hope it wont be too late.
Sunday, 19 October 2008
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3 comments:
Unfortunately, I think Clark will reject the offer. She is too busy making gibes about training wheels
If Clark turns his approach down then Key has to go to the Reserve Bank Governer, Head Sherang at the Treasury and probably the Chief Executives of the banks. They should then thrash out a plan and a timetable for instituting it and announce it to New Zealanders.
Clark and Cullen will have the option of saying they agree with it or tell what their plan is and how/when it will be implemented.
It's a clever move by Mr Key. It highligths the issue now. It prevents Ms Clark and Mr Cullen from suddenly discovering the issue and attemptingt to do a Gordon Brown as they save the counry from disaster.
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