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Australian Treasurer Swan Says Government Could Adjust Bank Guarantee |
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Australian Economy |
Written by CEP News |
Nov 21 08 02:44 GMT |
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(CEP News) - Speaking in Sydney Friday morning (Thursday night EST), Australian Treasurer Wayne Swan said the government and the Reserve Bank of Australia are ready to take any action necessary to support the economy.
The pledge comes as the Sydney's ASX plunged by over 4% to it's lowest level since December 2003. Specifically, he said, the Australian government is ready to adjust the guarantee on bank deposits if needed. Swan said the financial decoupling thesis has now been debunked, with emerging economies proven to be suffering along with developed ones. By Megan Ainscow,
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