Upon coming to office, Lange's government was confronted by a severe balance of payments crisis, as a result of the deficits fueled by Muldoon's imposition of a two-year freeze on wages and prices, and stubborn maintenance of an unsustainable exchange rate. Such economic conditions prompted Lange to remark: "We ended up being run very similarly to a Polish shipyard". Their first move was to hold an Economic Summit on 14 September 1984, similar to the one held in Australia by Bob Hawke the previous year, to create a feeling of consensus and to lay out the underlying problems in New Zealand's economy. The summit however was dominated by advocacy of radical economic reforms similar to what had been proposed by the Treasury Department, foreshadowing the Lange government's propensity to approach issues from a fundamentally economic standpoint. Margaret Wilson, the Labour Party's president, was deliberately not invited to the summit, a sign of the speed and intolerant approach to opposition that would characterise Rogernomics. Douglas himself saw the summit as a theatrical preparation for his first budget.