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Keep your kanga paws off our dollar!


Keep your kanga paws off our dollar!

The kangaroos have pocketed enough Kiwi cash and businesses without also taking our dollar, Green Co-leader Rod Donald today said.

Mr Donald is commenting after speculation about a trans-Tasman common currency last night at a function marking 20 years of Closer Economic Relations, and on Morning Report this morning.

"A common currency is a non-starter. No Kiwi dollar means no Reserve Bank and no monetary policy of our own," Mr Donald said.

"The Green Party rejects any further economic or political integration, including monetary union, because the experience of the last 20 years confirms that New Zealand's sovereignty and economy have been exploited by CER.

"Before we cuddle any closer to the Australians, we need a thorough and realistic assessment of CER, not one infused with a honeymoon glow. We can't continue to allow ourselves to be treated as the weaker partner, or a seventh state of Australia.

"We have already given away too much under CER, with two decades of one-way traffic -our money heading across the Tasman and into Australian pockets, and our businesses falling into Australian ownership.

"New Zealand has recorded a trade deficit with Australia in 18 of the 20 years of CER, and the cumulative deficit is now $9.3 billion in Australia's favour," Mr Donald said.

"The interests pushing for still further economic integration with Australia are biased and self-interested, including traders and trading corporations who do not pay the costs of the social dislocation of closer economic and political integration.

"They do not represent the interest of New Zealand citizens who would be further deprived of their democratic right to fully participate in decision-making by any closer union. This has already been evidenced by the giving away of full sovereignty over our ability to set our own food standards, under Food Standards Australia New Zealand." Mr Donald said.

For the Green position on CER, see http://greens.org.nz/docs/bills/0006cer_sub.htm

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