Australia politics - threats to the government's hold on power increase

This is something to keep in mind if trading the Australian dollar

I'll jump to (my) conclusion that it we do get an election a change in government it will not mean much of a change at all for monetary nor fiscal policy.

But, there could be a few market jitters nonetheless, something to be aware of.

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OK ....

1. What is going on is a bit of concern over the deputy prime minister holding dual citizenship. As a Federal MP in Australia this is a no-no and, if he does indeed have dual citizenship he would be kicked out of parliament.

The government is on a very thin majority and cannot afford to lose MPs. Having said this if the MP in question was forced to go to an election for his seat he would likely win it back.

More here at the Sydney Morning Herald:

• However the Nationals leader is also taking urgent steps to renounce his New Zealand citizenship, paving the way for him to run again in case the court rules him ineligible and orders a byelection in his NSW seat of New England.Mr Turnbull is also confident the court will clear his deputy, declaring: "The Deputy Prime Minister is qualified to sit in this house and the High Court will so hold."
• But constitutional experts do not share the Prime Minister's confidence and Labor is questioning the government's entire legitimacy. The spotlight has also once again turned back on other foreign-born MP - or MPs with parents born overseas - including the Liberal lower house MP Julia Banks, who has Greek heritage.

Ok, that is jitter #1

2. Now, another that is breaking - an independent MP who the government relies upon for continuing support has withdrawn his support, pnding negotiation:

• Independent MP Bob Katter has told Sky News he will no longer guarantee supply and confidence to the Turnbull government.The head of Katter's Australian Party said it was time to go 'back to the drawing board' over the citizenship drama surrounding Deputy Prime Minister Barnaby Joyce.

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There are intricacies of constitutional and electoral law I am not qualified to comment upon, but that's it in a nutshell.

Oh, and a ps. The deputy PM in hot water is Barnaby Joyce, the guy who threatened to kill Johnny Depp's (and girlfriend Amber Heard's) dogs. Score 1 for the dogs ;-)