Has Key gazzumped Labour?

Has John Key out-manouevered those self-professed political "experts" Helen Clark and Michael Cullen? I guess the jury will be out until the election, but from where Keeping Stock sits, Key's move to call for a bi-partisan approach (as is the convention) to the financial crisis is spot on.

Audrey Young notes that Labour has said "Thanks, but...", but has stopped short of welcoming him with open arms:

Finance Minister Michael Cullen says he will "take full notice" of what National said about the banking guarantee schemes - a response to John Key's call for a more bipartisan approach and more urgency in finalising schemes.

But Dr Cullen stopped short yesterday of saying he would actually involve National Party finance spokesman Bill English in the decision-making.

He said he welcomed the "re-assertion" of support for a bipartisan approach to finance sector regulation by Mr Key, the National Party leader.

Mr Key said yesterday that he did not see an imminent crisis in the banking sector but he wanted greater certainty, and sooner.

"At a time when confidence will play an important role in our economy, more certainty sooner should be our goal," he said at a press conference at Parliament.

"I am therefore making this statement because I want to confirm to [Prime Minister] Helen Clark and her colleagues that the National Party is prepared to work with them to ensure that decisions can be made during this election period, when it would be easy for politics to get in the way."

Meanwhile, John Armstrong sees it a little differently, and reckons Labour will see through Key's ploy:

Good try, John. But Labour is not going to fall for that old trick.

John Key insists his offer to Michael Cullen to work with Labour on urgently needed measures to protect the banking system was made to stop "politics getting in the way".

The politics always get in the way. However genuine Key's motives, his bipartisan initiative was bound to be treated with suspicion by Labour in the midst of an election campaign.

Helen Clark and her colleagues will have simply viewed it as a ploy by Key to look prime ministerial in a crisis.

Keeping Stock reckons that this action HAS made Key look prime ministerial already, and that it may be a case where the perception is more important than the reality. Helen Clark tries to peddle the line that Key is inexperienced but she can't run from this plain, simple fact - Michael Cullen is inexperienced in bad economic times as well, and the leadership he has shown in the last few months barely inspires confidence!