a bit rich

With respect, the Europeans must be stupid. If only they'd realized the benefits that come with such things as:

Building School Halls.

Installing Pink Bats.

Paying a fortune to rip out existing telecommunications infrastructure to force people onto our Saviour "The NBN".

In the spirit of realizing that Food Security is future of Australian Economics - Selling off of our prime Agricultural Land to the Chinese etc.

Locking in the death of our competitiveness and ensuring Australians have minimal Discretionary Income to support our biggest employing industry (retail) - by implementing a Carbon Tax. Hence, Embracing the collapse of local Manufacturing with only a political motivated unsustainable subsidizing of it.

The need to Supply Rifles to the NT Cattle Farmers.

Rolling out the Red Carpet at Xmas Island in the direct quest to get over the line in 2013.





Europe avoided tough decisions and had it coming , says Gillard by: BRENDAN NICHOLSON From: The Australian January 16, 2012 12:00AM

JULIA GILLARD has taken a swipe at European leaders saying they faced credit rating downgrades because they had put off tough economic decisions for years.
"For too many years, European governments have deferred the nation-building productivity enhancing reforms which Australia has made the foundation of our dynamic and resilient economy," the Prime Minister said in a statement yesterday.

Ms Gillard was responding to the decision of rating agency Standard and Poors to downgrade France from AAA to AA+.

"European leaders must swiftly undertake structural reforms to boost their economic potential and lift growth," Ms Gillard said.

She said European nations must implement credible medium-term plans to put their budgets on a sustainable footing, because taxpayers rightly expected governments to manage their money prudently and global financial markets demanded responsible fiscal management.

..."That's precisely why when we put in place our recession beating stimulus, we also put in place the strict fiscal rules that have us on track to return to surplus in 2012-13," Ms Gillard said.

"This is in stark contrast to Europe which is facing deficits as far as the eye can see and net debt 10 times that of Australia.

"In fact, Australia just recently achieved the coveted, gold plated AAA-rating from all three global ratings agencies for the first time in our history.

"The contrast with Europe could not be more stark.

"While global volatility will inevitably impact us here at home, Australians can take confidence in our rock-solid economic fundamentals.

"We've got strong growth, contained inflation, low unemployment and very low debt.

"The Government will keep taking the tough decisions needed to secure a strong, productive and sustainable Australian economy for the future."

But Opposition Treasury spokesman Joe Hockey said it was "a little rich" for the Prime Minister to be giving Europe a lecture when she and her Treasurer had presided over a massive blowout in Australia's debt and turned strong budget surpluses into record deficits.

Mr Hockey said Labor inherited an economy in great shape with $45 billion in the bank and a surplus Budget.

"Yet within four years debt has soared to more than $130 billion and we're yet to see a believable plan from the Treasurer as to how he plans to return the budget to surplus.

"We've seen nothing but financial mismanagement from this Labor government.

"Voters won't forget Labor's track record of wasteful spending on programs such as pink batts, cash for clunkers, the BER and $900 cheques to dead people.

"Australians are being asked to live within their means and they expect their Government to do the same."


http://www.theaustralian.com.au/national-affairs/europe-avoided-tough-decisions-and-had-it-coming-says-gillard/story-fn59niix-1226244929799