Bananas
LAWS: If we don't get out of this economic hole, as you described it, what is the prognosis? In simple terms.
KEATING: The prognosis is, the only way you can deal with the massive current account imbalance, is to close the economy down. You cut all growth to zero, you stop all the imports growing and unemployment starts rising again, and profits fall apart, and we go back to being the kind of economy we were in 1982 . . . or worse.
LAWS: Or worse. I mean that's a perfect description of a depression.
KEATING: If in the final analysis, Australia is so undisciplined, so disinterested in its salvation and its economic well being, fall back solution is inevitable because you can't fund $12 billion a year in perpetuity every year, and then the interest on the year before that, and the interest on the year before that, the only thing to do is to slow the growth down to a canter. Once you slow the growth under 3 per cent, unemployment starts to rise again.
LAWS: And then you have really induced a depression.
KEATING: Then, you have gone. You are a banana republic
Paul Keating
Banks
For the first time we are going to see what we have never had in Australia - and that is competition between the banks.
Paul Keating
Barunga
"Great leaders have to step down for other leaders," Gallarrwuy Yunupingu.
"...please understand the sense of disappointment in a way that I have that more could not have been done." The tears came as Mr Hawke said: "The important thing is what is in our hearts ... and in our minds."
Bob Hawke & Galarrwuy Yunupingu
