Issue 2009 February 07
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GLOBAL FINANCIAL CRISIS: Can Australia avoid an economic depression?
Australia escaped the financial crises of recent years; but minimising the impact of the current world-wide meltdown will be a tight balancing act, made more difficult by the nation’s huge foreign debt, writes Patrick J. Byrne.Recently, the consultancy Access Economics warned that Australia cannot avoid the recession engulfing the major economies — and the Rudd Labor Government didn’t deny the claim.The United Kingdom…
