He may not get the guernsey of Australia’s most engaging politician, but Wayne Swan’s fiscal policies have received recognition from a long-time leading global magazine in finance and banking. Euromoney named Swan as its 2011 Financial Minister of the Year, due to "careful stewardship of Australia’s finances … during and since the global financial crisis".
Swan follows Paul Keating as only the second Australian to win the award, which he will receive on Sunday at a reception in Washington. But is Swan really the world’s greatest financial minister? We put it to some of Australia’s key economists to explain whether or not he was rightfully named as No.1.
James Craig, chief economist at CommSec, says Swan is "right to accept [the award] on behalf of all Australians, he is the captain of the team". He credits Swan’s following of federal Treasury advice as the key reason for winning the award, and says that in terms of the Australian economy it shows that "we are following the right strategy, and we had luck on our side".