The Wire

Can former investment banker and prime minister-elect John Key drag New Zealand out of recession? Hopes are high as 47 year-old Key prepares to take the reigns of the new national party led coalition government. The nationals won 45.5 percent of the vote, which gives them 59 seats in the 122-seat parliament. With five seats from the right-wing ACT party, and one seat from the United Future’s party, the coalition government will have a clear majority. Former Prime Minister Helen Clark, who led government for 9 years, has resigned as leader of the labour party.