Clearly there are views on both sides of this question, which reflect the different institutional arrangements across countries. This is why we have argued over time that, in the pursuit of the optimal degree of transparency, it would not make sense to “cherry pick” the high transparency aspects of every other system and assume that they should simply be grafted onto the Australian system.
With firstly the euro, then the pound, then some other smaller currencies joining in, the position of the Australian dollar is now not so lonely.