Meet Malcolm Turnbull, Australia's new — and smiley — Prime Minister. A multi-millionaire, former lawyer, investment banker and tech entrepreneur, Turnbull deposed the growingly unpopular Tony Abbott "in a lightning coup after declaring the country needed new leadership and a clear economic vision," The Courier-Mail wrote on Tuesday's front page.

Turnbull, backed by Australia's Foreign Minister Julia Bishop, mounted a leadership challenge in the governing Liberal party yesterday and won with 54 votes to 44, thus becoming the new party leader and the country's 29th prime minister, the fourth since 2013.

But The Courier-Mail warns in an editorial that "no one can take any real pleasure from what occurred," explaining that Abbott was the third prime minister in a row to "have been sacked by their colleagues before a vote could be held at an election." The newspaper adds, "It is the kind of political merry-go-round we have laughed at when it's happened in countries like Italy. Now it's almost a new normal in Australia."

ABOUT THE SOURCE: The Courier-Mail is a center-right daily newspaper published in Brisbane. Founded in 1846 under the name The Moreton Bay Courier, it changed names several times before becoming The Courier-Mail in 1933. It was acquired by Rupert Murdoch in 1987.