It has come to pass via leaked briefing papers that Australia has been relegated to a second tier status ahead of the April G20 Summit in London. We share this 'honour' with the likes of Russia and Canada. Mind you, I'm not sure about Russia, but both Canada and Australia's banking systems have survived in remarkably good shape following the Economic Crisis. Not one bank has failed in either country.
"This is a very indicative list and based on the prevalence and scale of well-developed non-governmental organisations, media, civil society, academia, trade unions and non-traditional actors like sovereign wealth funds, not on how objectively important or not each country and its government were, either to the UK more widely or in a G20 context."
The newspaper said the confidential documents were part of a tender issued last December by the British government's Central Office of Information on behalf of the Foreign Office "for the supply of PR services for the London summit". (quoted from a UK Government release)
I'm still struck dumb when trying to work out why Australia's dollar has such an ordinary exchange rate whereas Japan and America - both broke - attract such favourable exchange rates? True, our resource sector has taken a bit of a hit, but our banking and monetry policy is second to none internationally and although we hover near it, we haven't been declared as being in recession, unlike 7 of the 10 leading OECD nations - and I passed economics at university (admittedly 40 years ago).
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