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World

Australia Labor Party admits defeat

Opening sequence

Opening sequence

World

Australia Labor Party admits defeat

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COMING UP:Australia Labor Party admits defeat

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Transcript

00:00:00
>> Finally, a result in what's been a marathon nine week election. Australia's opposition labor leader, Bill Shorten, conceding defeat.>> Whether or not it's a minority government, or a majority government of one or two seats, it is clear they will form a government.>> As vote counting powers through to its eighth day, the center right wing coalition is expected to win at least two of the five seats still in doubt.
00:00:25
Giving Prime Minster, Malcolm Turnbull, the support needed to retain power.>> Earlier today, Bill Shorten called me and congratulated me on being reelected as Prime Minister. And I thank Bill for that call.>> But victory may be bittersweet. Turnbull's call for early elections has backfired, with such a narrow margin of victory over labor, Turnbull is likely to be forced to rely on the independents to pass legislation.
00:00:53
That will put his leadership under pressure both in and outside his party, raising question about how long his newly reelected government can last.