AUSTRALIA’S big four banks have warned they may need extra backing from the Rudd Government and the Reserve Bank to prevent Australia from being sucked into a global credit-crunch recession.
The chief executives of the Commonwealth Bank, Westpac, NAB and ANZ all agree that the world’s finance ministers and central bank governors must produce a bold “co-ordinated” plan from this weekend’s Washington meetings in order to calm the stampede on world financial markets.
» Big four eye more backing – The Australian, 11th October 2008