Wednesday, September 24, 2008
Watching from across the pond
I'm slightly disturbed and very worried about the political state back home. I realise the transition is peaceful and will not bring about conflict or war but the shear numbers of ministers resigning is worrying especially given some of the positive actions during their term. Sitting in a foreign country I am sure I am not getting the full picture. I am looking at the political situation and hoping I return to a decent administration and all the decisions made by, for example, the science minister are still carried through. I think Trevor Manuel resigning is a sign of bad things to come. This is not a move that will encourage investment before the Soccer World Cup. Someone over here suggested that this is a far to speed up the transition or push it forward so the situation is stable by 2010. And being in a foreign country, I'm hoping the exchange rate improves so I can actually buy things here. But thats a very materialistic view :)
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3 comments:
Hi Hayley
Don't Stress the media has painted things out to be worse than it actually is.
Yes our president has resigned, and as a result of this it is only fitting that his elected ministers resign as well, due to the fact that he appointed them in those positions hence the mass other resignations we've seen this pass week
The new president when he or she comes in will then re-appoint these positions, potentially to the same people who have resigned.
Trevor Manual has already stated that should he be offered the position of minister of finance by the new president he will take up the position again.
In theory when our president resigned all of our ministers should have as they were appointed by him and in theory the new president should appoint his or her own ministers and not have to necessarily work with the old ministers.
So most likely that good old trevor will be back by Friday.
Go figure politic and procedure, misinterpreted and sending our markets into pandemonium!
Hey Hayley,
Ya there's nothing to stress about. We knew a new dispensation (essentially) would come into power eventually. Trevor's resignation was a matter of procedure and he could very well be re-appointed. It should also be noted that even if Trevor doesn't come back, the structures his administration of the dept set up will still be there. Investors shouldn't stress.
This sort of coup happens insides governments all the time. We've seen it in the UK and twice in Australia as well :)
I hope for your sake the exchange rate does recover soon!
Yes. What they said.
Also, the US is in a spot of bother at the moment (the financial mess and tax-payer bail-out, deployment of troops returning from Iraq within the US for 'crowd-control', Guantanomo Bay and its friends, laws allowing warrantless monitoring of communications, arbitrary detentions and suspension of habeas corpus, Iraq and the "war on terror" et al)
Every country has its hiccups.
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