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calculatedrisk.blogspot.com - 10/12/2008

Australia and New Zealand to Guarantee All Bank Deposits

— calculatedrisk.blogspot.com — From the WSJ: Australia to Guarantee All Bank Deposits Australian Prime Minister Kevin Rudd said Sunday the... government will guarantee all bank deposits for a period of three years. From Sunday, the government will also guarantee all term wholesale ... (more) Australia and New Zealand to Guarantee All Bank Deposits

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Australia and New Zealand to Guarantee All Bank Deposits
Calculated Risk — From the WSJ: Australia to Guarantee All Bank Deposits Australian Prime Minister Kevin Rudd said Sunday the government will guarantee all bank deposits for a period of three years. From Sunday, the government will also guarantee all term wholesale funding by Australian banks operating in international credit markets "to make sure they have the best possible access to global capital," Mr. Rudd said. The New Zealand government followed Mr. Rudd's announcement by introducing a bank deposit guarantee program as both countries sought safeguards against turbulence in global credit ...

Worthless Guarantees and Printing Presses
Mish's Global Economic Trend Analysis — ... Billion a Month Taxpayer Money I talked about the chain reaction of guarantees. Ireland guaranteed bank deposits putting Germany and the UK at a disadvantage. After criticizing Ireland, Germany did the same. The UK stepped in to guarantee bonds so now Germany and the US are at a competitive disadvantage. Am I the only one who sees how absurd his is? Is the final ending point, the government of every nation guaranteeing everything?Australia and New Zealand, get into the Guarantee Business. Australian Prime ...