House debates Questions without Notice

Foreign Debt

Thursday, 11 May 2006 House of Representatives

Peter Costello

Peter Costello Higgins, Liberal Party, Treasurer

2:14 pm

We have done stress tests in relation to those banks and, as a consequence of those stress tests, the RBA, the IMF and the Australian government are satisfied that Australian banks, which are amongst the most profitable in the world, are not exposed in respect of their borrowings and are quite able to handle those borrowings. Let me repeat: unlike 1996, not a single dollar of foreign debt—

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