New Zealand PM resigns after “ten years at the top”

New Zealand stocks fell and the local dollar shed nearly half a USA cent on Key’s unexpected announcement.

New Zealand’s military and diplomatic ties with the US weakened in the 1980s after the South Pacific nation banned nuclear warships.

When he heard the news, Australian Prime Minister Malcolm Turnbull sent him a brief text message: “Say it ain’t so bro”, telling reporters in Melbourne he considered his close friend “one of the most outstanding national leaders in the world today”.

Moody’s Investors Services said it did not expect to change New Zealand’s Aaa credit rating as a result of Key’s resignation and expected the country’s “very strong institutions to lead to a smooth tradition and policy continuity”.

About a year ago she returned to the inner circle of the Cabinet, taking on the police and corrections portfolios. “We have celebrated alongside fellow Kiwis in their happiest times, and wept with them in their saddest”.

The man in line to be New Zealand’s next prime minister has urged the Government to invest in the country’s “human capital”.

Key was a successful currency trader before turning to politics.

“Is the real reason that New Zealand’s productivity is so low is because every working age New Zealander has been bored to death by Bill English?”.

Asked about his next step, Key said he was “a commercial guy” and was likely to take up board positions, possibly with companies in Australia.

Risks surrounding a tie-up with Winston Peters would include possible curbs on migration, which has been at record levels this year, contributing to about one-third of New Zealand’s economic growth, Mr Green said. He was elected to the nation’s parliament in 2002 and enjoyed a quick rise, becoming leader of his center-right opposition party in 2006.

“The most important thing is for New Zealand to have stable government”, he said.

Surprisingly, given Key’s long-standing popularity, another 8 per cent believed National stood to benefit from shedding him as its leader. New Zealand’s new prime minister will likely play a smaller role on the global stage, at least at the beginning. English, 54, led the National Party 15 years ago for two years.

However, the South Pacific nation of 4.7 million people is also in the grip of a housing boom that’s seen prices in largest city Auckland nearly double over the past nine years, locking many first-home buyers out of the market and forcing others to take on huge amounts of debt. And Key was comfortably leading polls for the preferred prime minister. He was seen as affable and sometimes even a little goofy but with an uncanny ability to connect with voters. “Obviously, there’s been a brand around me”, he said. “I’m awake for majority, absolutely”. He then went on to win three straight elections.