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1984 New Zealand constitutional crisis
The New Zealand constitutional crisis of 1984 was an important constitutional and political event in the history of New Zealand. The crisis arose following the 1984 general election, and was caused by a major currency crisis. The crisis led the incoming government to review New Zealand's constitutional structures, which resulted in the Constitution Act 1986.
==Background==
Prior to 1985 the New Zealand dollar was controlled centrally by the Reserve Bank of New Zealand at an exchange rate fixed to the United States dollar. In early 1984 the Deputy Governor of the Reserve Bank, Roderick Deane, became concerned that the New Zealand dollar had become significantly overvalued and was vulnerable to currency speculation on the financial markets in the event of a "significant political event".
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