Squeaking to victory
Australia's Labor Party managed to cobble together enough independent lawmakers to earn the right to form a government. But after pulling in a disparate group of election winners, some doubted whether Prime Minister Julia Gillard could keep the minority government in office for a full term. Read results of Australia's election.
It will be interesting to see how long the government lasts. The next regularly scheduled election is three years, but my bet is they don't last that long. As BQ has mentioned, Australia has its own real estate bubble going on, and when it breaks, my guess is so will the government.
While the collapse of the government would cause some uncertainty, I would imagine that the Coalition would decisively win and be able to rule on their own. That should restore governmental stability and leave them with enough votes to get bills passed. Will the bills be any good? Who knows, but I think one thing Australia won't have to worry about is political indecisiveness.