John Key Resigns

No-one saw that one coming. John Key, New Zealand Prime Minister, is stepping down and won't seek re-election next year.

He's been an average PM. He muddled along in his jocular style, but there was no substance behind the man. I'd describe his approach as re-arranging the deckchairs on the Titanic.

But now we're going to see true incompetence. Those lining up in the wings are genuine duds, just watch. New Zealand investors have a reason to be very nervous.

It was generally accepted that Key was going after King Dick Seddon's record. Now he won't even surpass Helen Clark. Key must have been offered the job of Chairman of Westpac or something. It's been known he fancied that kind of appointment, just not this soon.