This photo taken on November 12, 2007, shows Australian Treasurer Peter Costello waving to the audience at the Government's election campaign launch in Brisbane. Costello announced his retirement from politics on June 15, 2009, ending intense speculation he would challenge for leadership of the opposition Liberal Party. He was Australia's longest-serving treasurer after an 11-year stint under ex-prime minister John Howard, said he would not contest another election following the party's 2007 defeat. Getty Images logo Getty Images 5 months ago

This photo taken on November 12, 2007, shows Australian Treasurer Peter Costello waving to the audience at the Government's election campaign launch in Brisbane. Costello announced his retirement from politics on June 15, 2009, ending intense speculation he would challenge for leadership of the opposition Liberal Party. He was Australia's longest-serving treasurer after an 11-year stint under ex-prime minister John Howard, said he would not contest another election following the party's 2007 defeat.

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