(Image Source: Crikey)

BY RICHARD LAYCOCK

A slip of the tongue--and oops!

Australia’s Broadcasting Standards Minister lets out a curse word during a televised press conference.

The Guardian has video of Minister Stephen Conroy’s live-TV slip.

“I  love the debate about sovereign risk. I have seen a new definition of sovereign risk -- it’s asymmetrical. If a tax goes up, God, that is sovereign risk. But if a tax goes down that’s f***ing fantastic … excuse me … that is fantastic.”

The interview, which aired between 12:30 and 1:30 p.m., was followed by Meerkat Manor - a children's program. The opposition leader, Malcolm Turnbull, released a statement about the incident on his website.

“Senator Conroy’s speech to the National Press Club today was as sloppy as it was vulgar.”

But The Sydney Morning Herald suggests-- the rest of the world isn’t taking it so seriously.

“The gaffe trended on Twitter almost instantly although most tweeters, rather than express shock or offence, seemed giddy with the irony that Conroy was the man responsible for setting national broadcast standards.”

So why aren’t people more fired up? An opinion writer for the ABC suggests-- maybe it’s because of the steady stream of swearing coming out of politicians lately.

“Just last week we saw a member of Malcolm's own party, the NSW Liberal whip Peter Phelps tell a Twitter user to 'go f**k yourself, commie' in reaction to a what was, admittedly, a rather uncivil tweet to begin with. In the last year, the Leader of the Opposition told soldiers, in reaction of the death of troops in Afghanistan, that 's**t happens'.”

According to the Australian-- in an interview after the slip-- Conroy said quote "I'm going to be in trouble".