International investment community is happy with the result
TOO MUCH pre-election emphasis has been laid on the two-thirds majority being achieved by the ANC, according to Stephen Friedman of the Centre for Policy Studies.
"You can talk technical rights (about the two-thirds majority allowing constitutional change), but you also have to talk real politics," he said.
"It could lead to change. But it is more applicable to ask yourself if they would change it (the constitution)? Why? And, if they did, what would they change?"
Friedman points to the fact that one area of speculation has surrounded the issue of ANC-control of the Reserve Bank.
But that "two-thirds" is not even a vital factor in this, he added. "Whether they have two-thirds or not," Friedman said, "the majority party has, at the termination of their contracts, the right to change the governor and the deputy-governor."
And, with Gill Marcus (formerly of the finance department) and Tito Mboweni (former labour minister) already appointed to the deputy and governor's seats, the ANC already has its representatives in place. But this without any major domestic or international ructions, according to Friedman.
So this also looks like a no-play situation, he suggested.
As the ANC has only acquired 66.35% of the vote, this "technical" two-thirds (66.66 repetitive) has not even been achieved.
But, as Friedman pointed out, the ANC is only one seat short. From the other minority opposition parties, some relatively supportive of the ANC: "That shouldn't be too difficult for them to find," he said.
"Is there really any difference between them having 266 seats and 268," said Friedman.
This especially so, when current talk revolves round a possible ANC/IFP coalition.
Whatever, the international feelings shared with Friedman suggest that there was satisfaction with the election going-off smoothly, and the result coming as no shock.
"The international investment community have those who monitor events here in SA," he said, "and those who don't. My contact with those who have indicates that they are happy with this result."
The choice of Thabo Mbeki as president is also a positive factor, according to Friedman. "I think that Mbeki wants to be good for business," he said. "He wants to create a business-friendly environment."
All-in-all, no shocks, no adverse excitement from Election '99.
By Alan Peat
Copyright Now Media (Pty) Ltd
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