New Zealand PM quits ahead of 2017 election - TDS
Research Team at TDS, notes that within an hour of Italian PM Renzi’s resignation in the wake of the “No” referendum vote, New Zealand’s Prime Minister John Key announced that he was stepping down as the National Party leader after ten years.
Key Quotes
“After eight of those years providing stability as Prime Minister, he steps down as National Party leader (and therefore PM) effective Monday 12 December.”
“This was a genuine shock to the National Party, the media, and the New Zealand electorate more widely. PM Key in his speech claimed that he had “nothing left” for a fourth term and that “it gives the Cabinet and caucus plenty of time to settle in with a new leader before heading into the next election”. The next election needs to be held by November 2017 (every three years).”
“Current Finance Minister Bill English is the automatic early contender for National Party leader and PM, being Deputy Prime Minister since 2008. While he has excelled as Finance Minister—delivering consecutive budget surpluses in the last two years—he is unfortunately also remembered (those of us with long memories) as a failed National leader from October 2001 to October 2003 (then replaced by Dr Don Brash).”
Author
Sandeep Kanihama
FXStreet Contributor
Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.
