The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookiesbefore using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Mealy-mouthed Rudd fails to back up Swan critique

Cornered by Euromoney, former Aussie PM Kevin Rudd was less scathing of his political rival Wayne Swan in person than he is in print.

Euromoney’s Finance Minister of the Year awards were designed as a gong for good work, to acknowledge a recession avoided, an enlightened reform advanced, an economy saved.

Australian politicians – who have been honoured just twice over its decades-long history – clearly didn’t get that memo.

Down Under, our award has become political dynamite, to explode opponents like Labor’s Paul Keating, given the accolade in 1984 for floating the Australian dollar and rejuvenating a moribund banking sector with foreign competition, reforms few expected of a union-dominated Labor government.

Keating’s conservative nemesis, the never-awarded but long-serving Peter Costello, would mock Keating as the “world’s greatest treasurer”, to the delighted chortles of Costello’s jeering Liberal colleagues.

 Kevin_Rudd 160x186

Kevin Rudd 

And then there’s former PM Kevin Rudd, in a category of his own. Rudd’s treasurer during his first term as PM from 2007 was fellow Queenslander Wayne Swan, who continued in the post after 2010 when Rudd was replaced as Labor leader by Julia Gillard in a coup that had Swan’s fingerprints on it.

Domestic politics aside, Swan got our award in 2011 for stewarding Australia through the ill winds that buffeted the globe in the wake of the elongated 2008 financial crisis, helping Australia become one of a handful of economies to avoid recession, an achievement acknowledged by economic minds greater than ours.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree