ID :
20345
Sat, 09/20/2008 - 10:13
Auther :
Shortlink :
http://m.oananews.org//node/20345
The shortlink copeid
Rudd shrugs off criticism of US trip
(AAP) - Prime Minister Kevin Rudd continues to shrug off criticism of his decision to head to the United States in the midst of the latest bout of global financial turmoil.
The Australian sharemarket has been on a rollercoaster ride this week, rebounding on
Friday after reeling a day earlier from the market meltdown in the United States.
Mr Rudd will miss parliament next week when he heads to New York on Monday, where he
will address the United Nations General Assembly and speak to a host of economic
officials.
The coalition has attacked the latest trip by the prime minister, accusing him of
spending too much time abroad and not enough time at home.
It will be his eighth international trip this year.
Nationals Senate leader Barnaby Joyce questioned Mr Rudd's "mystery trip", claiming
it was another example of how the prime minister was out of touch with the public.
"This guy is getting completely disconnected from what's going on and sooner or
later he's going to realise the main game is actually in this nation, not some other
nation," he told reporters.
Mr Rudd said on Friday it was crucial he cultivated contacts with US regulators,
which will give Australia a better idea of how America was planning to deal with the
financial crisis.
"Part of the reason for being in the United States next week ... is to speak again
with the US economic regulators and financial regulators," he told Fairfax Radio
Network.
"One of the people I will be meeting is the chairman of the New York Federal Reserve
- one of the three principal decision makers on deciding what future interventions
the Americans make in the US financial market.
"And we have a direct interest in that because Australian financial institutions
also have exposure to different US financial institutions and as much foreknowledge
as we have got about what the Americans may be doing in their own market is of
direct relevance to Australians, to be helpful to Australian financial system."
Mr Rudd provided a taste of his address to the UN General Assembly when he outlined
a $100 million Australian plan to create a new global carbon capture and storage
institute.
The proposal will form the basis of the prime minister's presentation next week, and
has already won support from British Prime Minister Gordon Brown.
The new institute would start out in Australia with the objective of helping meet
the G8 commitment to have at least 20 industrial scale carbon capture and storage
projects in operation by 2020.
Mr Rudd, who will be in New York with Foreign Minister Stephen Smith, will meet
heads of other Commonwealth nations next Wednesday to discuss progress towards
Millennium Development Goals to address global poverty.
The prime minister arrives in New York on Monday evening and is expected to fly out
on Thursday evening.
The Australian sharemarket has been on a rollercoaster ride this week, rebounding on
Friday after reeling a day earlier from the market meltdown in the United States.
Mr Rudd will miss parliament next week when he heads to New York on Monday, where he
will address the United Nations General Assembly and speak to a host of economic
officials.
The coalition has attacked the latest trip by the prime minister, accusing him of
spending too much time abroad and not enough time at home.
It will be his eighth international trip this year.
Nationals Senate leader Barnaby Joyce questioned Mr Rudd's "mystery trip", claiming
it was another example of how the prime minister was out of touch with the public.
"This guy is getting completely disconnected from what's going on and sooner or
later he's going to realise the main game is actually in this nation, not some other
nation," he told reporters.
Mr Rudd said on Friday it was crucial he cultivated contacts with US regulators,
which will give Australia a better idea of how America was planning to deal with the
financial crisis.
"Part of the reason for being in the United States next week ... is to speak again
with the US economic regulators and financial regulators," he told Fairfax Radio
Network.
"One of the people I will be meeting is the chairman of the New York Federal Reserve
- one of the three principal decision makers on deciding what future interventions
the Americans make in the US financial market.
"And we have a direct interest in that because Australian financial institutions
also have exposure to different US financial institutions and as much foreknowledge
as we have got about what the Americans may be doing in their own market is of
direct relevance to Australians, to be helpful to Australian financial system."
Mr Rudd provided a taste of his address to the UN General Assembly when he outlined
a $100 million Australian plan to create a new global carbon capture and storage
institute.
The proposal will form the basis of the prime minister's presentation next week, and
has already won support from British Prime Minister Gordon Brown.
The new institute would start out in Australia with the objective of helping meet
the G8 commitment to have at least 20 industrial scale carbon capture and storage
projects in operation by 2020.
Mr Rudd, who will be in New York with Foreign Minister Stephen Smith, will meet
heads of other Commonwealth nations next Wednesday to discuss progress towards
Millennium Development Goals to address global poverty.
The prime minister arrives in New York on Monday evening and is expected to fly out
on Thursday evening.
