The accounts do show that Australia is in a recession. The most important thing about that is, is that this is the recession that Australia had to have.
About this quote
- What does it mean?
- Keating suggests the economic recession was a necessary correction for Australia despite the immediate hardship.
- In plain terms
- The recession was needed to fix the economy.
- What can you take from it?
- Sometimes pain is required for long-term health.
Where it applies
Putting it to work
Questions to consider
- Was the recession truly necessary?
- Who bears the cost of correction?
Another view
The claim of necessity is contested by those who suffered job losses.
More from Paul Keating
He's the greatest L plater of all time.
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