Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Oil Up & Currency Down A Global Problem - Cullen

Rising Oil Prices And Falling Currency A Global Problem - Cullen

The Minister of Finance Dr Michael Cullen, reports his visits to German financial institutions in Frankfurt were worthwhile and positive.

“I had meetings with Commerzbank, Deutsche Bank and the European Central Bank. Despite the vast difference in size and scale there was a common concern with us about rising oil prices and exchange rate volatility.

“The main matter of concern to me was the reinforcement of a message that trends in global financial markets outside of our control are tending to make smaller economies less attractive from a variety of perspective’s. This is entirely a matter of size.

“This makes it all the more important that we look for wider linkages, including strengthening our closer economic relationship with Australia.

“It also emphasises the importance of the government’s strategy of developing means to promote stronger sustainable export-led growth and a higher level of national savings.

Dr Cullen said New Zealand is clearly held in warm regard and there is a sophisticated understanding of both the issues we face and the policies of the present government. "Contrary to a good deal of comment in New Zealand, there was no indication of any view that New Zealand was out of step with the mainstream of developed countries.

“New Zealand, as recent decisions (such as those relating to New Zealand Steel and Watties) emphasise, remains an alternative place to invest in. But we need to move on strongly to implement the Government’s agenda for change to maintain and improve our position," said Dr Cullen.

Ends


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>

ALSO:

With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>

ALSO:

Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>

ALSO:

Wellington: Predator Free Capital Plan

Wellington City Council (WCC), the Greater Wellington Regional Council (GWRC) and NEXT Foundation, today announced a joint collaboration to make Wellington the first Predator Free capital city in the world. More>>

ALSO:

Gordon Campbell: On Judith Collins’ Efforts At Self Correction

Thousands of prisoners currently in prison may be entitled to an earlier release than expected – and compensation – because Corrections has incorrectly calculated their term of imprisonment. Unless of course, the government buries its mistakes by changing the law and retro-actively getting itself off the hook… More>>

ALSO:

More Justice & Corrections

Sector Opposes Bill: Local Government Bill Timeframe Extended

The Minister of Local Government Peseta Sam Lotu-Iiga has asked the Select Committee to extend the report back date for the Local Government Act 2002 Amendment Bill (No 2). More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news