As Treasurer, Paul Keating did much to liberalise the Australian economy, and his confidence that what he was doing was right, was his ultimate political downfall as well. In commenting on the recession that Australia was in during the early nineties, he said it was the recession "that Australia had to have". It haunted Keating until he lost office in 1996.
A four minute video of Paul Keating's 'Placido Domingo speech' which featured strongly in his second and successful campaign to replace Bob Hawke. In the speech Mr Keating said that Australia had never had a great Prime Minister. It wasn't very subtle.