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home / archives / politics / australian / federal / bob hawke / 25th July 1986
 

A Banana Republic.

The Commonwealth Games in Edinburgh were underway. Meanwhile in Australia Prime Minister Bob Hawke was coping with the effects of a statement by Treasurer Paul Keating. During a radio interview with John Laws, Keating stated that when the relative size of foreign debt to GDP was considered Australia was in danger of becoming a 'banana republic'.