Gillard Aussi PM

Julia Gillard will stay as Australia’s prime minister after winning the backing of two key independent MPs.

Tony Windsor and Rob Oakeshott held the balance of power in parliament after a fellow independent MP, Bob Katter, backed opposition leader Tony Abbott.

The dramatic announcement ended more than two weeks of political deadlock following indecisive elections.

It gives Ms Gillard’s Labor Party the backing of one more MP in the lower house than the Liberal-led coalition.

The minority government is Australia’s first since World War II.

“The events of the past fortnight show us unequivocally that our democracy is very, very strong indeed,” Ms Gillard told a news conference in Canberra.

“With today’s agreement… Labor is prepared to deliver stable, effective and secure government for the next three years. Ours will be a government with just one purpose – to serve the Australian people.”

BBC World News

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Dean Popplewell

Dean Popplewell

Vice-President of Market Analysis at MarketPulse
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell