In our client discussions of late we've had a lot of questions around the sovereign debt problems in Europe and how this is going to affect Australia. There was an interesting speech from the Deputy Governor of the Reserve bank this morning, a summary of which, from the NAB economists, can be read below via the following link:
The headline is ‘RBA Deputy says Australia well placed to weather Euro crisis’. Thus whilst Australia is not immune to the issues in Europe in a symbiotic global economy the Deputy Governor is encouraged by the strength of the US and the policy easing which has commenced in some parts of Asia – and Australia and he can see an exit from the crisis for Europe without catastrophe. But this is by no means assured .
In uncertain times conflict free, impartial advice is fundamental to management of our client’s risk.
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